Laxmi Bank likely to offers 25% right shares along with15% bonus shares

Laxmi Bank Limited has decided to offer 25 percent right shares, besides 15 percent bonus shares it had pledged to the shareholders from the net profit it posted in the last fiscal year 2069/70.

A meeting of the Board of Directors of the commercial bank held today took the decision also to offer the right shares so as to raise its paid-up capital, a highly placed source privy of the development told.

The source further informed that the bank is also planning to hold its upcoming Annual General Meeting within March.

The bank had posted a net profit of Rs 45 crore in the last fiscal year.

After the adjustment of both 4:1 ratio Right Shares and the 15% bonus shares the bank current paid up capital too will soar up from Rs 1.694 billion to Rs 2.371 billion.

It may be noted that Laxmi Bank had distributed 10 percent cash dividend for the previous fiscal year 2068/69, too.-SSN