First Microfinance apportions 50% right shares; Only 1.18% right shares unsubscribed

First Microfinance has alloted 50% right shares to the valid shareholders on 20th Baisakh, 2075.  The company has successfully apportioned 22,54,179 units to the 5,246 applicants. The unclaimed 27,134 units will be auctioned among general public soon. 

Shareholders having the shares at the time of bookclose were eligible to apply for right share. The shareholders book closed on 8th Magh 2074.

The company will refund the amount for unallotted shares from 24th Baisakh, 2075. 

Global IME Capital was managing the issue.

First Microfinance is a wholesale microfinance and needs to expand its paid up capital to 60 crores by mid-july 2018. This right issue will expand the company's capital to Rs 68.30 crores, thus meeting the capital requirement.