Gurkhas Finance 50% right share approved by SEBON

Securities Board of Nepal (SEBON) has provided final approval to Gurkhas Finance Limited for the issuance of 50% right shares. Gurkhas Finance had applied to SEBON on March 8, 2017 for the issuance of 28,93,313 units right shares worth Rs 28.93 crore in the ratio 2:1 and it received approval for the same yesterday. NIBL Capital Markets Limited has been assigned as the issue manager. Gurkhas Finance 22^nd AGM held on Poush 26, 2073 had approved 50% right share i.e. 28,93,313 units to its existing shareholders. The finance company has earned Rs 10.70 crore till the end of Q2 of the fiscal year 2073/74. Its paid up capital stands at Rs 57.86 crore. After the issuance of right shares, paid up will reach Rs 86.20 crore. Gurkha Development Bank and Kathmandu Finance Limited had started joint operation after merger from Chaitra 28, 2072 as “Gurkhas Finance Limited”, a class “C” national level finance company. Its trading has not started in NEPSE as of yet.