Kisan Microfinance to float 2.4 lakhs kitta right share to its shareholders: Right issue got final approval from SEBON

The right share of Kisan Microfinance Bittiya Sanstha Limited has been given final approval from the Securities Board of Nepal (SEBON). The company to issue 50% right share i.,e. 2.40 lakh unit shares worth Rs 2.4 crore.

Civil Capital Market Limited has been appointed as the issue manager for the right issue.

The current paid up capital of the microfinance is Rs 4.8 crore. After the 50% right issue, the microfinance's capital will increase to Rs 7.20 crore. Additionally, the company has proposed a dividend of 29% on the paid-up of 4.8 crore and that will further increase the company's paid-up capital to Rs 8.59 crore. However, the dividend proposal has to be approved from the AGM and Nepal Rastra Bank.

The company had shown the poor result in Q4 of fiscal year 2074/2075 as the profit has decreased by more than 15%. LTP of the stock stands at Rs 1685.