Last day to apply for 175% right shares of Manjushree Finance; offer ends today

Manjushree Finance Limited (MFIL) has been issuing 1:1.75 (175%) right shares to its existing shareholders from Magh 6, 2073 and today (Falgun 11, 2073) is the last day to apply for the same. Manjushree Finance has been issuing a total of 43,86,375 unit right shares at the face value of Rs 100. The book closure date for 175% right issue was set for Poush 9, 2073. Only the shares registered one trading day ahead of the book closure dates i.e. Poush 7, 2073 were eligible for the right shares. Ace Capital Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from Ace Capital Limited, Lal Durbar, Kathmandu and from Ace Development Bank Limited and its branch offices. The application forms can also be collected from Manjushree Finance Limited, Baneswhor and its branches, from Mahakali Bikas Bank Mahendranagar Branch, Triveni Bikas Bank’s Palpa, Beshisahar, Panauti, Banepa, Itahari and Bhakundebesi branch and from Pokhara, Waling, Baglung, Beni, and Mugling branches of Garima Bikas Bank. Nepal Investment Bank’s Pokhara, Biratnagar and Birgunj branches and Goodwill Finance Limited’s Nepalgunj and Itahari branch have also been set as collection centers. MFIL had earned net profit of Rs. 2.37 crore in the second quarter of the current fiscal year. The paid up capital of the finance company stands at Rs 28.57 crore. After the issuance of 175% right share, the paid up capital will reach Rs 72.43 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, MFIL will need to increase its capital by a further 10.45%.