Lumbini General Insurance issuing 20% right shares from Kartik 24, 2076; Capital after adjustment to reach Rs 1.05 arba

Lumbini General Insurance Company Limited (LGIL) is issuing it's 10:2 ratio 17,60,000 units right share to its shareholders from Kartik 24 to Mangsir 29, 2076.

The company is issuing 17.60 lakh at Rs 100 per shares to its shareholders. The book closure for the issue was on Ashwin 27, 2076.

CBIL Capital is the issue manager of the right issuance.

LGIL's current capital stands at Rs 88 crores. After the adjustment of right issue, it will reach Rs 1.05 arba.

ICRA Nepal has assigned [ICRANP] IPO Grade 3, indicating average fundamentals to the proposed rights issue amounting to NPR 176 million of Lumbini General Insurance Company Limited (LGIL). LGIL has proposed a 20% rights issue of 1,760,000 numbers of equity shares of face value NPR 100 each, to be issued to the existing shareholders at par. The proposed rights issue is being made to comply with the revised minimum paid up capital requirement for general insurers as prescribed by the Insurance Board of Nepal.

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