Srijana Finance 50% right share offer at Rs.100 from Magh 25; LTP stood Rs 71

Srijana Finance Limited (SFFIL) has called on its existing shareholders to start apply for 2:1 (50%) right shares from Magh 25, 2072. According to the notice published by the finance today, the rights issue will remain open for 35 days before closing on Falgun 30, 2072. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Magh 5, 2072 would be eligible to apply for the right shares. Srijana Finance will be issuing a total 6, 72,000 unit right shares at the face value of Rs 100. NCM Merchant Banking Limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from the any branch of Srijana Finance Limited as well as from NCM Merchant Banking Limited located at Kamalpokhari, Kathmandu. After the adjustment of the rights shares, the bank’s total paid-up capital will reach to Rs 20.16 crore from the existing Rs 13.44 crore. The bank has authorized capital of Rs 30 crore. Its public-promoter share structure stand at 60:40 ratio. ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the propose rights issue. The last trading price of SFFIL stood at Rs 71 as on November 3, 2015.