SEBON approves to issue 83% right shares of Shree Investment & Finance

Securities Board of Nepal (SEBON) has provided final approval to issue right shares of Shree Investment and Finance Company Limited (SIFC). SIFC will be issuing 10:8.3 (83%) right share to its existing shareholders at par value of Rs 100. The issue manager for the right issue is Siddhartha Capital Limited. Its paid up capital stand at Rs 34.54 crore. After the issuance of proposed 83% right share, its paid up capital will reach Rs 63.20 crore, As per NRB’s requirement for all finance company to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, SIFC will need to issue a further capital hike of Rs 16.8 crore (around 26.5%). It had earned Rs 1.01 crore in the first quarter of the FY 2074/75.