100% right shares of Mirmire Microfinance to be issued from Ashadh 27; Capital to reach Rs 10.38 crore after issuance of 4.50 lakh unit right shares

Mirmire Microfinance Development Bank Limited (MMFDB) will be issuing right shares in the ratio 1:1 for its shareholders from Ashadh 27, 2075. The right issue will last till Shrawan 29, 2075.

The microfinance company is issuing 4,50,000 unit right shares at a par value of Rs 100.

The book closure date for the right share issuance had been set on Jestha 18 i.e. the shareholders holding the shares of SMATA till Jestha 17 will be eligible to apply for the right shares.

NIBL Ace Capital has been assigned as the issue manager for the right issue.

The paid-up capital of the microfinance company will reach Rs 10.38 crore after the adjustment of 100% right shares and recently declared 30.80% bonus share.

ICRA Nepal has assigned Grade 4 rating to the right issue of (MMFDB) which indicates below-average fundamentals.

It had reported net profit of Rs 5.99 crore as on the third quarter of the current fiscal year.