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Siddhartha Devt to Issue 10:6 Right Shares

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Siddhartha Devt to Issue 10:6 Right Shares
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April 3: Siddhartha Development Bank is issuing 10:6 right shares. The right shares issuance will commence from April 20 to May 24. The bank is issuing 8,515,005.6 units of right shares with a face value of Rs 100.

According to the bank, interested shareholders registered in the shareholders book by March 1 can apply for the right shares. The bank has appointed Nabil Investment Banking as its Issue Manager. Apart from the Issue Manager, the shareholders can submit their application in all the branch offices of Siddhartha Development Bank. Presently, the bank has paid-up capital of Rs 1.41 billion. After the issuance of the right shares, the paid-up capital will increase up to Rs 2.27 billion.

Meanwhile, the net profit of the bank has increased by 25 per cent to Rs 186.8 million compared to the corresponding period of last FY. Similarly, net interest income has increased by 85.21 per cent to Rs 383.8 million compared to the review period of last FY.  Likewise, operating profit of the bank has increased by 19.13 per cent to Rs 273.4 million. In the second quarter of the current FY, bad debt of the bank has been rested at 2.78 per cent. 

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