The company held their 14th AGM on Ashad 14, 2077 and declared a 10: 3 rights offering. Therefore, 24,33,363.6742 units of shares will be issued to shareholders at the rate of Rs. 100 per unit. The company will raise a capital of Rs. 24,33,36,367.42 through this offering. Excel Development Bank Limited has appointed NIBL Ace Capital Limited as the issue manager for their Right Share issue.
This agreement was signed on April 09, 2021 between CEO of Excel Development Bank Mr. Dinesh Kumar Pokhrel and Mr. Mekh Bahadur Thapa Deputy Chief Executive Officer, NIBL Ace Capital Ltd. and Mr. Sachindra Dhungana Assistant General Manager, NIBL Ace Capital Ltd.