Last day to grab 45% right shares of Reliance Finance; LTP at Rs 186

Today is the last day to grab 45% right shares of Reliance Finance Limited (RLFL). The finance company has decided to close the register of their shareholders on Mangsir 8, 2074 for the purpose of issuing right share. Thus, only those shareholders that have shares traded ahead of the book closure date will be eligible to apply for the right shares. SEBON had given approval for the issuance of right shares on Kartik 25, 2074. Sunrise Capital Limited has been assigned as the issue manager for right share issue. Reliance Finance will now be issuing 2,306,571.60 units right shares worth Rs 23.06 crore, to its shareholders, each to be floated at a par value of Rs 100 per share from Mangsir 22 to Poush 27, 2074. RLFL’s current paid up capital remains at Rs 51.25 crore. After issuance of 45% right share, its paid up capital will reach Rs 74.32 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore, RLFL should increase a further capital hike of Rs 5.68 crore (around 7.65%). Its LTP stood at Rs 186 as of last trading day.