Book closure for 100% right shares of Nepal Insurance Company on Chaitra 23; only 7 trading days left

Nepal Insurance Company (NICL) has published notice regarding book closure date for upcoming 100% right share issue. The 100% right share issue of Nepal Insurance Company Limited (NICL) had been approved by Securities Board of Nepal (SEBON) on Falgun 29, 2074. The Insurance company had applied for the approval of issuance of 30,19,866.10 unit rights shares on Poush 21, 2074. The insurance company’s current capital stands at Rs 30.19 crore and after the issuance of rights share in the ratio of 1:1, its paid up capital will reach Rs 60.39 crore. The company has also recently proposed 4.52384% bonus shares for its shareholders.  The total capital of the company after the issuance of bonus share would be Rs 61.76 crore NIBL Ace Capital has been appointed as the issue manager for the right share issue. ICRA Nepal has assigned (ICRANP) IPO Grade4+ to the Rs 30.19 crore Rights issue of Nepal Insurance Company Limited (NICL). Instruments with this grading are considered to have below average fundamentals.