SEBON approves 1:0.8284 right shares issue of Citizen Investment Trust (CIT)

SEBON has approved the issue of the right shares of Citizen Investment Trust (CIT).

Citizen Investment Trust had submitted an application to SEBON to issue the right shares. The Trust had proposed to issue the right shares in the ratio of 1:0.8284. The right shares will be worth a little over Rs. 1.35 Arba. Now that the Board has approved the proposal, CIT will issue 1,35,92,592 unit right shares to eligible shareholders.

RBB Merchant Banking Limited is the issue manager for the issue. After the issuance of the right shares, Citizen Investment Trust will have the paid-up capital of Rs. 3 Arba.

The company has reported a net profit of Rs. 14.59 crores in the first quarter of the fiscal year 2077-2078. This is an increase of 20.63% compared to the corresponding quarter of the previous year.

As per the report published by the company, the paid-up capital stands at Rs. 1.64 Arba. The calls in advance of the company decreased by 17.87% to Rs. 13.59 crores in this quarter. Similarly, the company reported a reserve and surplus of Rs. 8.28 Arba.

The earnings per share stood at Rs. 33 whereas the net worth per share stood at Rs. 238. The company reported a Return on Investment of 8% which is a decline in this quarter. This is mainly because the company has a major investment in fixed deposits in the banks and due to the lower interest rate, the company’s deposit yielded a lower return.