Shree Investment & Finance proposes 83% right shares; Paid up capital to reach Rs 63.20 crore

Shree Investment and Finance Company Limited (SIFC) has proposed a further capital hike by the way of issuance of 83% right shares. As per the notice published in NEPSE, Shree Investment and Finance has decided to propose 83% right share to its shareholders subject to the approval from its special general meeting going to be held today. Earlier the company had not proposed the amount of right shares that it was going to issue. SIFC has earned net profit of Rs 5.92 crore till the end of third quarter of the ongoing fiscal year. Its paid up capital stand at Rs 34.54 crore. After the issuance of proposed 83% right share, its paid up capital will reach Rs 63.20 crore, As per NRB’s requirement for all finance company to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, SIFC will need to issue a further capital hike of Rs 16.8 crore (around 26.5%).