Book closure for 83% right shares of Shree Investment & Finance on Poush 30

Shree Investment and Finance Company Limited (SIFC) has announced the book closure date. As per the notice published in NEPSE today, the finance company has set the book closure date on Poush 30, 2074. Thus, only those shareholders holding their shares till Poush 28, 2074 i.e. days ahead of the book closure date or last trading day are eligible to apply for the right share. 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 Its LTP stood at Rs 398 as of last trading day.