IME General Insurance's 80% right shares issuance starts from today; Applications for 43.20 lakh units to be accepted till Magh 21

IME General Insurance Limited (IGI) will be issuing its 80% right shares from Poush 17, 2075 i.e today. The insurance company will be issuing 43,20,000 units for its shareholders which will be closed on Magh 21, 2075.

The shareholders holding the share of the company till Mangsir 08 will be eligible to apply for the right shares.

Global IME Capital Limited has been appointed as the issue manager for the right issuance. Applications can be placed through banks providing C-ASBA services or through Meroshare.

ICRA Nepal had assigned Grade4 rating to the right shares of IME General Insurance indicating below average fundamentals.

The shares with par value of Rs 100 will increase the capital by Rs 43.20 crore. After the adjustment of the right shares will increase the capital to Rs 97.20 crore.