Deadline Extended for 10:3.4783 Right Offering of Nepal Insurance Company

Nepal Insurance Company Limited (NICL) has extended the deadline for its ongoing rights offering. Initially opened on 6th Shrawan, 2082, the issue was scheduled to close on 26th Shrawan, 2082. However, as per the latest notice, the rights offering will now remain open until Bhadra 02, 2082.

The company will be issuing 34.783% right shares worth Rs. 65.76 Crores through the issue of 65,76,967.76 (10:3.4783) units of right shares to its existing shareholders. The current paid-up capital is Rs. 1.64 Arba. After the adjustment of the proposed right share, i.e., 65,76,967.76 units, the company's paid-up capital will increase to Rs. 2.30 Arba.

According to the CDSC, 18,062 applicants applied for 21,93,602 units of right shares, equivalent to Rs. 21.93 crores.

NIMB Ace Capital Limited is appointed as the issue manager.

The book closure date is 30th Jestha, 2082. Thus, investors who maintained before that day can apply for the shares.