27th January 2025, Kathmandu
NRN Infrastructure and Development Limited is launching a rights issue and has appointed Nepal SBI Merchant Banking Limited as the issue and sales manager. This step supports the company’s goal of market expansion and growth.
NRN Infrastructure Share Rights Issue
SBI Merchant Banking to Manage Rights Issue
NRN Infrastructure and Nepal SBI Merchant Banking formalized their partnership for the rights issue. The agreement was signed by Leknath Pokhrel, CEO of Nepal SBI Merchant Banking, and Hemant Basyal, CEO of NRN Infrastructure. Nepal SBI Merchant Banking will oversee the entire process.
Details of the Rights Issue and Share Allocation
NRN Infrastructure will issue 12,843,724 ordinary shares in a 1:1 ratio to current shareholders. This follows approval from the 2023/24 Annual General Meeting. The goal is to raise funds for future development.
Strong Investment Portfolio
Since its registration in 2012, NRN Infrastructure has diversified investments across hydropower, tourism, hotels, insurance, and telecommunications. Its shareholders include influential figures from various industries in Nepal, enhancing the company’s credibility.
SBI Merchant Banking’s Role
As a subsidiary of Nepal SBI Bank, Nepal SBI Merchant Banking is a trusted player in Nepal’s financial market. The company has expertise in handling rights issues, public offerings, and related services.
Supporting Expansion and Future Growth
The rights issue aims to raise funds for NRN Infrastructure’s expansion in key sectors. By issuing shares, the company plans to increase its financial strength and continue infrastructure development across Nepal.
Impact on NRN’s Future
The rights issue is a major opportunity for NRN Infrastructure and its shareholders. With the support of Nepal SBI Merchant Banking, the company is well-positioned to raise capital and continue expanding in hydropower, tourism, and other sectors.
This rights issue will help NRN Infrastructure meet its goals and strengthen its market position. The funds raised will fuel further investments and support Nepal’s infrastructure growth.
For more: NRN Infrastructure Share Rights Issue
