Gurkhas Finance Promoter Shares Up for Sale, 15-Day Window for Applications

Kathmandu. Gurkhas Finance Limited has announced that some of its existing promoter shareholders are selling their shares. The company has opened the sale of a total of 12,037 promoter shares and invited applications from interested buyers.According to the notice, Pirthi Maya Rai is selling 7,037 shares, while Bir Bahadur Magar is selling 5,000 shares. The sale process has been initiated after the promoters applied for approval from the board of directors, and the notice has been issued to inform existing promoter shareholders.The company has requested interested promoter shareholders to submit their intent to purchase within 15 days from the date of publication of the notice. Applications must be submitted in writing at the company’s head office located at Dillibazar, Kathmandu.If no applications are received from existing promoters within the given timeframe, the company will proceed with the share sale process in accordance with prevailing laws, including the Bank and Financial Institutions Act, 2073, and directives issued by Nepal Rastra Bank.Promoter shares in financial institutions are subject to regulatory provisions and are not freely tradable in the open market. Therefore, compliance with all regulatory requirements is mandatory for approval.Overall, this share sale process is expected to bring changes in the ownership structure of Gurkhas Finance while providing an opportunity for eligible investors to increase or acquire promoter-level stakes in the company.