Nepal Life Insurance issuing 30,96,429 units FPO shares at Rs 1,425 from today; Applicants can apply up to 30,960 units

- ShareSansar, January 11, 2017  on Featured , FPO News , Latest , Stock Market

Nepal Life Insurance Company Limited (NLIC) is floating 30,96,429 units shares worth Rs 4.41 arba as a part of Further Public Offering (FPO) from today (Poush 27, 2073). The FPO is being issued at Rs 1425/unit.

The FPO applications will close on Magh 2, 2073. The maximum closing date for the offer is Magh 12, 2073. Interested people must apply for a minimum of 10 units of share and they can apply for up to 30,960 units of share.

Siddhartha Capital Limited has been appointed as the issue manager for the FPO. As per an official of Siddhartha Capital Limited, investors cannot apply for this FPO under the ASBA system.

The insurance company has a paid up capital of Rs 2.16 arba. After the issuance of the FPO, its paid up capital will reach to Rs 2.47 arba. Reserve will grow by Rs. 4.1 arba.

Nepal Life Insurance had earned Rs 5.89 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report.

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