SEBON provides final approval to the 100% right shares of Swadeshi Laghubitta; Paid-up capital to reach Rs 23 crore

Thu, Aug 9, 2018 9:36 AM on Dividend, Bonus & Rights, Latest, Stock Market,
SEBON prov...

The right share of Swadeshi Laghubitta Bittiya Sanstha Limited has been given final approval from the Securities Board of Nepal (SEBON).

The 100% right share issue of 11.50 lakh unit shares of the microfinance company had been added in the pipeline for approval.

NIC Asia Capital Limited has been appointed as the issue manager for the right issue.

The current paid up capital of the microfinance is Rs 11.50 crore and after the 100% right issue the bank’s capital will increase to Rs 23 crore.

The company had earned Rs 3.77 crore in the fourth quarter of the fiscal year 2074/75.

Care Ratings Nepal Limited has assigned Grade 4 rating to the right share issue of the microfinance indicating below average fundamentals.