Last day to apply for 80% (29.54 lakh units) right shares of Sagarmatha Finance; offer ends today

Sagarmatha Finance Limited (SAFL) has been issuing 10:8 (80%) right shares to its existing shareholders from Poush 11, 2073 and  today (Magh 17, 2073) is the last day for applying for the same. Sagarmatha Finance has been issuing a total of 29, 54, 389 unit right shares at the face value of Rs 100. The book closure date for 80% right issue was set for Mangsir 24, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. today (Mangsir 23, 2073) are eligible for the right shares. NIBL Capital Markets Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from NIBL Capital, Lazimpat, Kathmandu and from all branch offices of Sagarmatha Finance. After the adjustment of the rights shares, the finance company’s total paid-up capital will reach to Rs 66.47 crore from existing Rs 36.92 crore. The bank has authorized capital of Rs 1 arba. Its public-promoter share structure stands at 52.55:47.45 ratio. SAFL has earned net profit of Rs 5.61 crore till the second quarter of the fiscal year 2073/74 as per its unaudited report. Its paid up capital after the capitalization of 15.85% bonus shares for the FY 2072/73 stands at Rs 36.92 crore. After the issuance of 80% right shares, its paid up capital will reach Rs 66.45 crore. As per NRB's directive for all national level finance companies to increase their paid up capital to Rs 80 crore by the end of the FY 2073/74, SAFL will need to further increase its capital by 20.38%. Its annualized EPS as of the end of Q2 2073/74 stands at Rs 30.43 with a networth of Rs 172.83 per share.