National Life Insurance to issue 60% right shares from Shrawan 01; Paid-up capital to reach Rs 2.64 arba after right shares issuance

National Life Insurance Company Limited (NLICL) will be issuing 60% right shares to its shareholders from Shrawan 01, 2075 till Bhadra 04, 2075.

The life insurance company will be issuing 99,36,477.50 unit shares at a par value of Rs 100 for its shareholders.

NIBL Ace Capital is the issue manager for the right share issue.

After the adjustment of 60% right shares, the paid up capital of NLICL will stand at Rs 2.64 arba meeting the minimum capital requirement of Rs 2 arba.

The book closure for the right share issuance was made on Ashadh 22, 2075 i.e. the shareholders holding the shares of the company till Ashadh 21 will be eligible to apply for the right shares.

ICRA Nepal has assigned Grade 3 rating to the right share issue indicating ‘Average Fundamentals’.

NLICL has reported net profit of Rs 22.20 crore in the third quarter of the current fiscal year. Its LTP stands at Rs 1,200 as on Ashadh 14, 2075.