Mahalaxmi Bikas Bank to change shareholding ratio from 53.98:46.02 to 51:49; promoter shares worth Rs.8 Crore to be converted to ordinary shares
The 433rd BOD meeting of Mahalaxmi Bikas Bank Limited (MLBL) has decided to change the promoter public shareholding ratio.
The promoter public shareholding ratio which is currently at 53.98:46.02, will be changed to 51:49 through conversion of promoter shares. Promoter shareholders who do not want their shareholding converted are required to submit a written application at the central office (Durbarmarg) of the bank within a period of 35 days of publishing the notice.
The paid up capital of the company as of the end of third quarter of last FY stands at Rs.2.84 Arba out of which Rs.1.53 Arba is held by promoter shareholders and Rs.1.31 Arba by ordinary shareholders. After the change of shareholding ratio, Rs.1.45 Arba will be held by promoter shareholders and Rs.1.39 Arba by ordinary shareholders.
