Synergy Finance to issue 25% right shares from today; Paid up capital to reach Rs 59.30 crore after adjustment of right shares

Synergy Finance is issuing 25% right shares to its shareholders from Ashadh 25, 2075 i.e. today. The issue will last till Shrawan 27, 2075. The finance company is issuing 11,86,022.47 unit right shares to its shareholders at par value of Rs 100.

Prabhu Capital has been appointed as the issue manager for the right issuance.

For the purpose of the right share issuance, the shareholders register book had closed on Jestha 30, 2075 i.e. the shareholders holding shares of the company till Jestha 29 are eligible to receive the right shares. Since its trading has been suspended since Ashwin 26, 2074 due to acquisition by Best Finance Company Limited (BFC), shareholders with shares traded until Ashwin 25, 2074 are eligible to apply for the right shares.

After the adjustment of 25% right shares, the paid-up capital of the company will reach rs 59.30 crore from the existing Rs 47.44 crore. Its acquisition will complete in a swap ratio of 1:1 after which the paid-up capital of the merged entity will reach Rs 88 crore.

Its LTP stands at Rs 145.