Guheshwori Merchant proposes 40% right share; paid up to reach Rs 69 crore

Guheshwori Merchant Banking and Finance Limited (GMFIL) has decided to issue 40% right share to increase its paid up capital. As per the notice published in NEPSE today, the BOD meeting of GMFIL held on Baisakh 11, 2074 has decided to propose 40% right share to its shareholders, subject to the approval of concerned authorities. 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 3.22 crore in the second quarter of the ongoing fiscal year 2073/74.