Nepal Finance Limited (NFS) has opened the issue of 1:1.25 right shares from today, i.e. Mangsir 04. The issue will conclude on Mangsir 24 after banking hours.
The right shares in the ratio 1:1.25 amount to 16,97,506.25 units of shares. This will take the company's paid-up capital to Rs. 30 crores. The existing paid-up capital of the company is a little over Rs. 13.58 crores. Meanwhile, the authorized capital is Rs. 1 Arba.
The Securities Board of Nepal had approved the right shares proposal of Nepal Finance Limited on Ashwin 19. The book closure date for the issue of its right shares was announced on Kartik 06. Thus, investors maintained before that date are eligible to apply for the issue of the right shares.
In the issue notice, the company has mentioned that the issue is opened to fulfill the capital requirement set by Nepal Rastra Bank and raise enough capital prowess to expand its branches and increase the volume of transactions, among other reasons.