Nepal Insurance issuing 100% (30.19 lakh units) right shares from Baishakh 5; Offer ends on Jestha 8

Nepal Insurance Company Limited (NICL) is issuing 1:1 (100%) right share to its shareholders from Baishakh 5, 2075.. The rights issue will remain open for 35 days before closing on Jestha 8, 2075. The company had set the book closure date on Chaitra 23, 2074. Thus, only those shareholders owning shares till Chaitra 22, 2074 are eligible to participate in the AGM. NIBL Ace Capital has been appointed as the issue manager for the right share issue. NICL will be issuing 30,19,866.10 units right shares worth Rs 30.19 crore to its existing shareholders at a face value of Rs 100 per share. SEBON had given approval for the issuance of right shares on Falgun 29, 2074. ICRA Nepal has assigned (ICRANP) IPO Grade4+ to the Rs 30.19 crore Rights issue of Nepal Insurance Company Limited (NICL). Instruments with this grading are considered to have below average fundamentals. Interested applicants can apply from NIBL Ace Capital Limited and designated branches of Nepal Insurance Company Limited The insurance company’s current capital stands at Rs 30.19 crore and after the issuance of rights share in the ratio of 1:1, its paid up capital will reach Rs 60.39 crore. The company has also recently proposed 4.52384% bonus shares for its shareholders.  The total capital of the company after the issuance of bonus share would be Rs 61.76 crore It had posted net profit of Rs 4.27 crore in the first quarter of the FY 2074/75. Its LTP stood at Rs 863 as of last trading day (i.e. Chaitra 15, 2074). Click here to see announcement: