Everest Insurance right shares allotment: 93.56% shares get subscribed; remaining 5,29,819 units shares to be sold via auction soon

The 300% right share of Everest Insurance Company Limited (EIC) has been allotted to the applicants.

The non-life insurance company had issued 82,19,475 unit shares for its shareholders at par value of Rs 100. Out of the total units, 76,89,656 units shares got subscribed by right eligible applicants. Still 5,29,819 units got unsubscribed which is 6.44% of total issue.

The remaining right shares will be sold via auction soon.

Siddhartha Capital Limited has been appointed as the issue manager.

The company had recently issued 105% right shares, which has been listed in NEPSE. The existing paid up capital of EIC is Rs 27.39 crore. Then, after the adjustment of 300% right shares proposed now the capital will reach Rs 1.09 arba.