Reliance Finance Limited (RLFL) will be issuing 10:4.5 (45%) right share to its shareholders from Mangsir 22, 2074

As per the notice published by the bank today, the rights issue will remain open for 35 days before closing on Poush 27, 2074.

The book closure date for the rights issue has been set on Mangsir 8, 2074. Only those shares registered one trading day ahead of the book closure date i.e. Mangsir 7, 2074 are eligible to apply for the right shares.

Reliance Finance will be issuing units 23,06,572 unit right shares worth Rs 23.06 crore to its existing shareholders at a face value of Rs 100 per share.

Sunrise Capital Limited has been appointed as its issue manager.

Interested applicants can collect application forms from Sunrise Capital Limited, Kamalpokhari, Kathmandu and from designated branches of Reliance Finance Limited and Sunrise Bank Limited.

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, RLFL should increase a further capital hike of Rs 5.68 crore (around 7.65%).

It had earned Rs 10.98 crore in the fourth quarter of the FY 2073/74.

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