Swabalamban Laghubitta Bittiya Sanstha Limited (SWBBL) has published a notice regarding change in promoter/public shareholding ratio.
The microfinance company presently has a paid up capital of Rs.50.31 Crore. After the adjustment of 25% bonus shares proposed from the profit of last year, the paid up capital will increase to Rs.62.88 Crore. The promoter/public shareholding currently stands at 70:30. The company has plans to initially float 1,014,148 units FPO shares to change the promoter/public shareholding ratio to 60:40. Post the FPO, the promoter shareholders will be holding Rs.43.82 Crore and public shareholders will be holding Rs.29.21 Crore to make a total capital of Rs.73.03 Crore.
Further, the company will convert 660,333 units of promoter shares to ordinary shares to finally establish promoter/public shareholding ratio at 51:49, where promoters will hold Rs.37.24 Crore and public shareholders will hold Rs.35.78 Crore of the paid-up capital.
The notice also states that the promoter shares who do not want to convert their shares to ordinary are required to submit a written request regarding the same at the central office of the company situated in Baluwatar, within 15 days of publication of the notice.