Book Closure for 30% right shares of Shikhar Insurance on Falgun 13, 2076; ICRA rating of Grade 3+ assigned to the issue

Book Closu...

Shikhar Insurance Company (SICL) is issuing 30% (1:0.3) right shares for its existing shareholders. A total of 31.71 lakh units will be issued at a par of Rs 100 per unit.

NIBL Ace Capital is appointed as the issue manager of the right issuance.

The 219th Board Meeting of SICL held on Falgun 01, 2076 has decided the book closure to be on Falgun 13, 2076. Therefore shareholders maintained on Falgun 12, 2076 will be eligible to apply for the right shares.

The paid-up capital of SICL as of Q4 2075/76 stands at Rs 1.05 arba. After the issuance of 30% right shares, it will reach Rs 1.36 arba.

ICRA Nepal has assigned [ICRANP] IPO Grade 3+, indicating average fundamentals to the proposed rights issue amounting to ~NPR 317 million of Shikhar Insurance Company Limited (SICL).