Sahayogi Bikas and Janaki Finance to merge; Paid up capital to reach Rs 76.87 Crore – ShareSansar

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  1. Sahayogi Bikas Bank

SahayogiBikas Bank Limited (SBBL) is 3 district level development banks. As per the monetary policy for the fiscal year 2072/73, 3 district level development banks need to hike their paid up capital to Rs 50 crore by the end of Ashad 2074.

The current paid up capital of the Sahayogi Bikas Bankremains at Rs 20.14 crore.The bankwill distribute bonus share worth Rs 5.64 crore (28%) then its paid up capital will rise to Rs 25.78 crore in the fiscal year 2071/72. For the Fiscal Year 2073/74, the paid up capital of the development bank will be Rs 32.23 crore after issuing bonus share worth Rs 6.44 crore (25%).

The bank also plans to go for merger with Janaki Finance limites. After the merger the merged entity will issue bonus share worth Rs 8.84 crore (13%) to raise the paid of capital to Rs 76.87 crore for the fiscal year 2073/74.

Here is the plan of the Sahayogi Bikas bank to increase their paid up capital:

 

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  1. Janaki Finance Company Limited

Janaki Finance Company Limited, a three district level financial institution has come up with its Capital Plan. The finance company has a paid up capital of Rs 24.86 crore in the FY 2071/72. It will issue bonus share worth Rs 5.46 crore for the fiscal year 2071/72. The finance company’s paid up capital will reach up to Rs 35.48 crore with issuance of bonus share worth Rs 5.15 crore and Rs 40.45 crore after issuing bonus share worth Rs 4.96 crore in the FY 2072/73 and 2073/74 respectively.

In the fiscal year 2072/73, the finance company will merge with Sahayogi Bikas Bank, the bank’s paid up capital will be Rs 76.89 crore after the merger process and issuance of 14 %bonus share.

janaki finance

"This article was published on ShareSansaar (Oct 5, 2015)"