Right Alert! Grameen Bikas Laghubitta to issue 50% right shares from Baisakh 27; investors holding shares till Chaitra 28 are eligible

Grameen Bikas Laghubitta Bittiya Sanstha Limited (GBLBS) will be selling 32,75,000 units right shares (1:0.5) ratio to its existing shareholders from Baisakh 27, 2075. The last day for this right issue is on Jestha 30, 2076.

The book closure date for right share purpose was on Chaitra 29, 2075. Investors holding shares of the company till Chaitra 28 will be eligible for right shares.

The microfinance company is  issuing right shares in the ratio of 1:0.5 or 50% at par value. The company will be issuing 32,75,000 units as right shares to raise a capital worth Rs 32.75 crore.

NIBL Ace Capital Limited has been appointed as the issue manager.

The existing paid up capital of company is Rs 65.50 crore and after the 50% right shares issue the paid up capital will rises to Rs 98.25 crore.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade  4 (Pronounced as ICRA NP IPO Grade Four) to the Rs.32.75 crore worth (50%) Rights Issue of Grameen Bikas Laghubitta Bittiya Sanstha Ltd. (GBLBS). Instruments with this grading are considered to have below-average fundamentals.

The last trading price of GBLBS is Rs 346 traded on April 22.