Book Closure for 45% right share of Reliance Finance on Mangsir 8; only 6 trading days left

Reliance Finance Limited (RLFL) has set book closure date for its upcoming 10:4.5 (45%) right shares. As per the notice published by the company today, the finance company has decided to close the register of their shareholders on Mangsir 8, 2074 for the purpose of issuing right share. Only those shareholders that have shares traded ahead of the book closure date will be eligible to apply for the right shares. SEBON had given approval for the issuance of right shares on Kartik 25, 2074. Sunrise Capital Limited has been assigned as the issue manager for right share issue. Reliance Finance will now be issuing 2,306,571.60 units right shares worth Rs 23.06 crore, to its shareholders, each to be floated at a par value of Rs 100 per share. 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%).