Last Day to Apply for 1: 0.3 Rights Offering of Shikhar Insurance (SICL)

Shikhar Insurance Company Ltd (SICL) is closing its 1: 0.3 ratio right shares to its shareholders today.

The issue opened on 1st Chaitra and will close today, i.e. on 21st Chaitra, 2078, at the end of banking hours.

Magh 21 was the book closure date. Thus, shareholders or investors maintained before that are eligible to claim their portion of the right shares.

The insurance company has been issuing a total of 52,75,572 shares to its shareholders, which is 30 percent of the existing paid-up capital. The proposal was recently approved by the Securities Board of Nepal (SEBON).

The 15th and 16th AGM of the company held on Chaitra 09, i.e. March 22, 2021, endorsed a 27.769% bonus shares and 1.462% cash dividend for the fiscal year 2076/77. The AGM approved 30% right shares issuance after capital adjustment post-bonus shares distribution.

Upon adjusting this right share amount, the company's total paid-up capital will be Rs 2.286 arba. The company is yet to call its AGM for FY 77/78.

SICL closed at Rs. 1,297 yesterday.

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