Proposed 50% rights issue of Grameen Bikas Laghubitta receives final approval from SEBON; paid up capital to stand at Rs.98.25 Crore after issue of 32.75 Lakh units as rights

Thu, Mar 14, 2019 12:39 PM on Dividend, Bonus & Rights, External Media, Latest, Stock Market,
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In the latest list of right shares approved published by Securities Exchange Board of Nepal (SEBON), proposed right shares of Grameen Bikas Laghubitta Bittiya Sanstha (GBLBS) has received final approval from the board.

The microfinance company is set to issue 50% right shares worth Rs.32.75 Crore to the existing shareholders of the company. The final approval for the same was received on 29th Falgun 2075. NIBL Ace Capital has been appointed as the issue manager for the right share issue.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 to the proposed rights issue of Grameen Bikas Laghubitta Bittiya Sanstha Ltd. (GBLBS). Instruments with this grading are considered to have below-average fundamentals.

The current paid up capital of GBLBS which stands Rs.65.50 Crore as of the second quarter of FY 75/76, will increase to Rs.98.25 Crore after the proposed issue.