Book closure for 100% right issue of Gurans Life Insurance on Falgun 22, 2076; Capital to reach Rs 1.87 arba after adjustment

Book closu...

Gurans Life Insurance (GLICL) is issuing right shares at the ratio of 1:1 or 100%. A total of 93 lakh 85 thousand 200 units are being issued at a par of Rs 100.

The 156th Board Meeting of the company held on Falgun 12, 2076 has decided that the book closure for the right issue will be on Falgun 22, 2076. Therefore, shareholders maintained on Falgun 21, 2076 will be eligible to apply for the right issue.

NMB Capital has been appointed as the issue manager.

It's paid-up capital as of Q2 of FY 2076/77 stood at Rs. 93.85 crores.

After the issuance of the proposed right shares on its existing paid-up capital of Rs 93.85 crore, its paid-up value shall scale up to Rs 1.87 arba thereby meeting the requirement set for the life insurance companies of Rs 2 arba soon.

ICRA Nepal has assigned [ICRANP] IPO Grade 4+, indicating below-average fundamentals to the proposed rights issue of NPR 938.5 million of Gurans Life Insurance Company Limited (GLICL).