60% right share of RSDC Laghubitta approved by SEBON

Securities Board of Nepal (SEBON) has approved 60% right shares of RSDC Laghubitta. The regulatory body has granted the approval today. 

The company can now issue 21,59,700 unit shares at a face value of Rs 100 to the shareholders. RSDC has already appointed NIBL ACE Capital as the issue manager for the issue. Whereas ICRA Nepal has assigned “[ICRANP] IPO Grade 4” rating indicating a below-average fundamentals. 

RSDC Laghubitta being a wholesale microfinance needs to raise the paid-up capital to Rs 60 crores by mid-july 2018. RSDC currently has a paid-up capital of Rs 35.99 crores. The comapany earned a net profit of Rs 2.30 crores as of 3rd quarter of this fy.