1:1 right shares of Kathmandu Finance from Kartik 15; paid up will reach Rs 36.75 crore

Kathmandu Finance Limited (KFL) has called on its existing shareholders to start applying for 1:1 right share from Kartik 15,2072. Only those shareholders owning shares till Jestha 16, 2072 will be entitled to the right share of the company. The financé will issue a total of 18,37,763 unit rights share at the face value of Rs 100. The closing date for the right issue has been set for Mangsir 20. At present the finance has a paid up capital of Rs 18.37 crore whereas after the issuance of right shares its paid up capital will reach to Rs 36.75 crore. Interested existing shareholders can apply for the shares at office of the finance’s Share Registrar NIBL Capital Markets Limited, which is located at Lazimpat, Kathmandu. Nepal has assigned an “[ICRANP] IPO Grade 5”, indicating poor fundamentals to the proposed rights issue amounting NPR 183.7763 million of Kathmandu Finance Limited (KFL). ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals. Kathmandu Finance had posted a net profit of Rs 1.71 crore in its 4th quarter of the fiscal year 2071/72.