SEBON adds right shares of Ngadi Group Power and Grameen Bikas Laghubitta to its pipeline; companies proposed to issue 30% and 50% rights respectively

Securities Exchange Board of Nepal (SEBON) has added right shares of two companies to its pipeline under preliminary review, worth a total of Rs.48.81 Crore.

One amongst the two companies is Ngadi Group Power Limited (NGPL). The hydropower company is looking to issue 30% right shares worth Rs.16.06 Crore through issue of 1,606,664.40 units right shares to existing shareholders. The current paid up capital which is at Rs.53.55 Crore as of the second quarter of FY 75/76, will increase to Rs.69.62 Crore after the proposed issue.

Another company is Grameen Bikas Laghubitta Bittiya Sanstha (GBLBS). The microfinance company is looking to issue 50% right shares worth Rs.32.75 Crore through issue of 3,275,000 units right shares to the existing shareholders. The current paid up capital of Rs.65.50 Crore as of the second quarter of FY 75/76, will increase to Rs.98.25 Crore after the proposed issue.

Both these issues are currently under preliminary review from SEBON.