NRN Infrastructure & Development to Sell 1:1 Right Share | Appoints Nepal SBI Merchant Banking as Issue Manager

January 27, 2025 | Investopaper

NRN Infrastructure & Development Limited (NRN) is planning to sell right shares to the shareholders. The company has decided to float the right shares in the ratio 1:1. This means that the shareholders with 100 shares can apply for the additional 100 shares.

For this purpose, the company has appointed Nepal SBI Merchant Banking Limited as the issue and sales manager. An agreement has been inked between the company and Nepal SBI Merchant Banking on this regard. Mr. Hemant Basyal, CEO of NRN Infrastructure & Development and Mr. Lekhnath Poudel, CEO of Nepal SBI Merchant Banking Limited signed the agreement for right issuance.

As of Ashad’s end 2081 BS, NRN has a paid up capital of Rs 122.32 crores. After the inclusion of the proposed 5 percent bonus share, the capital will increase to Rs. 128.43 crores. The company will issue the right shares on this capital.

Hence, the company has plans to sell right shares worth Rs. 128.43 crores. After the right issue, the paid-up capital will reach Rs. 256.86 crores.


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