When is the book closure for right issue of Civil Bank & Reliance Finance?

Securities Board of Nepal (SEBON) has already provided final approval to 10:4.5 (45%) and 10:4 (40%) right issue of Reliance Finance Limited (RLFL) and Civil Bank Limited (CBL) respectively. Both the companies have not announced book closure date for the right share. Reliance Finance has got approval from SEBON on Ashwin 25, 2074 for the right share issuance. RLFL will be issuing a total of 2,306,571.60 units right shares worth Rs 23.06 crore, each to be floated to its existing shareholders at par value of Rs 100 per share. As per an official of Reliance Finance, “It might take two or three weeks to publish book closure notice as we have not held BOD meetings yet.” He further added that the company has already sent notice to the directors regarding the same. RLFL’s current paid up capital remains at Rs 51.25 crore. After issuance of 45% right share, its paid up capital will reach Rs 74.32 crore. As per NRB’s directive for all national level finance companies to increase their paid up capital to a minimum of Rs 80 crore by the end of FY 2073/74, RLFL should increase a further capital hike of Rs 5.68 crore (around 7.65%). Likewise, Civil Bank has got approval from SEBON on Kartik 1, 2074 for the right share issuance. CBL will be issuing a total of 2,07,40,886.75 units right shares worth Rs 2.07 arba, each to be floated to its existing shareholders at par value of Rs 100 per share. As per the source, “We will publish book closure notice soon. It might take two or three days to publish the notice”. CBL’s current paid up capital remains at Rs 5.18 arba. After issuance of 40% right share, its paid up capital will reach Rs 7.25 arba. As per NRB’s directive for all commercial banks to increase their paid up capital to a minimum of Rs 8 arba by the end of FY 2073/74, CBL should increase a further capital hike of Rs 75 crore (around 10%).