Last day to apply for 105% right shares of Everest Insurance; Paid-up capital to reach Rs 27.39 crore after adjustment

Today is the last day to apply for the 105% right shares of Everest Insurance Company Limited (EIC).

The insurance company has been issuing 14,03,325 units for the shareholders holding shares of the company till Kartik 26, 2075.

Siddhartha Capital Limited has been appointed as the issue manager for the right issuance.

ICRA Nepal has assigned Grade 4 rating to the right issue indicating below average fundamentals.

The current paid-up capital of the company stands at Rs 13.36 crore which will rise to Rs 27.39 crore after adjustment of 105% right shares. The company is also set to issue 300% right shares  after which the paid-up capital of the insurance company will reach Rs 1.09 arba.