Last day to register for 250% right shares of Sahara Bikas bank; trading halted due to acquisition process

Today is the last day to register for the 250% right shares of Sahara Bikas Bank Limited (SHBL). Hence, the investors who are yet to receive their earlier bought shares of SHBL should contact their brokers and have their shares transferred to the DEMAT accounts.

The book closure date for the right share issuance has been set on Baisakh 10, 2075 i.e. the shareholders holding the shares of SHBL till Baisakh 09 (today) will be eligible for the right shares.

NIBL Ace Capital Limited has been appointed as the issue manager for the right issue.

The development bank had earned Rs 54.33 crore till the end of Q2 of the fiscal year 2074/75. Its paid-up capital stands at Rs 7.29 crore. After the issuance of right shares, paid up will reach Rs 25.54 crore.

SHBL is in the process of being acquired by Deva Bikas Bank Limited (DBBL).

See the announcement here