IPO in Pipeline: General Insurance Company gets green flag to issue IPO of 30 lakh unit shares

General Insurance Company Nepal Limited (GICNL) has received a green signal from SEBON to issue its IPO of 30 lakh unit shares. 

At present, the promoters-funded paid-up capital stands at Rs. 70 crores. After the IPO issue, its paid-up capital will be Rs. 1 Arba. This also means that the promoter: public shareholding ratio will be maintained at 70:30 after the issue. 

NIBL Ace Capital has been appointed the issue manager for the IPO issue. 

The company’s profit had increased from Rs.3.62 crores to Rs.5.06 crores in the fourth quarter of the last fiscal year 2076/77. 

The net earnings from the premium rose by 27.34% to Rs. 20.96 crores till Q4, 2076/2077 from Rs. 16.46 crores in the corresponding quarter of the last fiscal year. The company has earned Rs. 9.34 crore from reinsurance income and investments. However, the company's income from the investment has decreased by 47.67% in Q4. 

The company’s net claim payment rose by a massive 240.27% to Rs. 7.69 crores in Q4 of FY 2076/2077. Till the fourth quarter, the company has issued 57,803 policies.

GICNL’s EPS stands at Rs. 7.23 whereas the net worth per share stands at Rs. 114.68 in Q4, 2076/2077.