Nanda Investments goes for Rs. 45 m Rights

Thursday, 10 October 2013 00:00 -     - {{hitsCtrl.values.hits}}

Nanda Investments and Finance Plc has announced a Rights Issue to raise Rs. 45 million. It will issue 5.035 million shares on the basis of one new ordinary share for every 20 held at Rs. 9 each. The current stated capital of the company is Rs. 125.85 million. Funds raised will be used to enhance the core capital and grow the business through existing and/or new lines of businesses. The issue is subject to regulatory and shareholder approval. BRAC Lanka Investments holds a 56.6% stake in Nanda Investments and Finance Plc whilst LOLC Micro Investments holds 33.4%. Shares held by the public as at June 2013 was 9.35%.