Gurans Life Insurance proposes 50% right share; paid up capital to reach Rs 89.10 crore

Gurans Life Insurance Company Limited (GLICL) has decided to issue 50 percent right share to its shareholders. As per the notice published on Nepal Stock Exchange today, the BOD meeting of the company held on Jestha 17, 2074 has decided to issue 50 percent right share after 8% bonus share issuance. GLICL had earned net profit of Rs. 2.88 crore in the second quarter of fiscal year 2073/74 as per unaudited report. Its paid up capital remains at Rs. 55 crore. After distributing 8% bonus share after 50% right share, its paid up capital will rise to Rs. 89.10 crore. As per Insurance Board's directive, GLICL should increase its paid up capital to a minimum of Rs 2 arba by the end of FY 2074/75.