97% of Mahuli Laghubitta's 3 lakh unit right shares allotted on Magh 20; Paid-up capital to reach Rs. 9 crore after adjustment

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Tue, Feb 5, 2019 4:00 PM on Dividend, Bonus & Rights, Latest, Stock Market,
97% of Mah...

Mahuli Samudayik Laghubitta Bittiya Sanstha Limited (MSLB) had allotted 2:1 ratio i.e. 50% right shares on Magh 20, 2075. The issuance for 3,00,000 units right shares were available at par value of Rs 100 per share.

Sunrise Capital Limited has been appointed as the issue manager for the right issue. As per the issue manager, out of the issued 3 Lakh units, only 9,453 remain unsubscribed which will go into auction. Almost 97% of the issue has been subscribed and allotted.

Shareholders holding shares of the microfinance company till 18th of Magh were eligible to apply for the right shares.

ICRA Nepal had assigned Grade 4 rating to the 50% right shares indicating below average fundamentals.

After the issue of right shares, the paid-up capital of the company will increase by Rs.3 Crore and stand at Rs.9 Crore.