Siddhartha Insurance and Womi Microfinance 35% and 30% right shares added in SEBON pipeline respectively for approval

Siddhartha insurance Limited and Womi Microfinance Bittiya Sanstha Limited has been added in Securities Board of Nepal (SEBON) pipeline to request approval for the issuance of right shares. SIL is seeking approval to issue 22,44,973.50 unit (35%) right shares worth Rs 22.44 crore of Rs 100 per share to its shareholders. The issue manager for the right issue is NMB Capital Limited. The current paid up capital of SIL is Rs 64.14 crore and after the issuance of 35% right share its paid up capital will reach to Rs 86.58 crore. To meet the capital requirement of Rs 1 arba as directed by Insurance Board, it needs to hike its capital by Rs 13.42 crore (around 15.58%). It had earned Rs 4.12 crore in the first quarter of FY 2074/75. WOMI is seeking approval to issue 2,33,280 unit (30%) right shares worth Rs 2.33 crore of Rs 100 per share to its shareholders. The issue manager for the right issue is Siddhartha Capital Limited. Its current paid up capital is Rs 7.77 crore and after the issuance of 30% right share its paid up capital will reach to Rs 10.1 crore. It had earned Rs 73.1 lakh in the first quarter of FY 2074/75.