Guheshwori Merchant Banking & Finance’s SGM today; to endorse 40% right share

Guheshwori Merchant Banking & Finance Limited (GMFIL) is conducting its Special General Meeting (SGM) today (Baisakh 29, 2074). The SGM is being held at Guheshwori Bhawan, Hariharbhawan, Pulchowk, Lalitpur. The main agenda of the SGM is to endorse the issuance of 40% right share on its current paid up capital. Likewise, it will also be endorsing the change in Article of Association (AOA) and Memorandum of Association (MOA) as its issued capital and paid up capital will increase after the issuance of this right share. The register of their shareholders has been closed on Baisakh 19, 2074 for the purpose of this SGM. Only those shareholders having shares before Baisakh 18, 2074 are eligible for participation in the SGM. Its paid up capital currently stands at Rs 49.34 crore. After the issuance of 40% right share, its paid up capital will reach Rs 69.10 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, GMFIL will need to issue a further capital hike of around 15.8%. GMFIL had earlier issued 12% bonus share and 50% right share to its shareholders. It has earned net profit of Rs 5.19 crore in the second quarter of the ongoing fiscal year 2073/74.