Over 8.87 lakh units right shares of Sagarmatha Finance unclaimed by its shareholders; to be auctioned soon

Sagarmatha Finance Limited (SAFL) had floated 29.54 lakh units right shares in the ratio 10:8 to its existing shareholders from Poush 11 to Magh 17, 2073. Out of the total 29,54,389 units issued right shares, only 20,66,926 units shares were subscribed. The remaining 8,87,463 units right shares will be now be auctioned. As per an official of Sagarmatha Finance, out of the unclaimed 8.87 lakh units right shares, 1,67,144.17 units are ordinary shares and 7,20,318.83 units are promoter shares. Huge amount of promoter right shares has not been subscribed. Sagarmatha Finance Limited has earned net profit of Rs 5.61 crore in the fiscal year 2073/74. Its paid up capital remains at Rs 36.92 crore. After the capitalization of 80% right shares, its paid up capital will reach Rs 66.45 crore. As per NRB’s requirement 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, SAFL will need to issue a further capital hike of around 20.38%. It is yet to propose any dividend for the FY 2072/73. Also see: Auction data with cutoff prices of recently auctioned right shares