Multipurpose Finance (MPFL) Seeks SEBON's Approval for the Issue of 35% Right Shares

The process of issuing rights shares has been carried out by Multipurpose Finance Company Limited (MPFL). On Falgun 29, the company sought Securities Board (SEBON) for approval to issue rights shares in an application.

If SEBON grants permission for the said right shares, 35 percent right shares of the paid-up capital, or 1:0.35, will be distributed to shareholders by MPFL. It states that 15.82 lakh shares will be sold in total at a nominal price of Rs. 100.

The present paid-up capital of MPFL is Rs. 45.20 Crores. Hence, after the issue of right shares at 35%, the paid-up capital of the company will be revamped to Rs. 61.02 Crores.

Similarly, Muktinath Capital Limited has been designated as Multipurpose Finance's share sale manager.