Promoter Shares of IME General Insurance (IGI) Converted; What's the New Shareholding Ratio?

10,41,827 units promoter shares of IME General Insurance Limited (IGI) are now converted to ordinary shares. The shareholding ratio of the company is now 51: 49.

The 23rd AGM of the company held on 12th Baisakh, 2078 endorsed the dividend for the fiscal year 2076/77: 7% bonus shares and 0.37% cash dividend. The dividend was distributed from the paid-up capital of Rs. 1,08,18,36,000. Thus, the bonus shares are worth Rs. 7,57,50,000 and the cash dividend is worth Rs. 39,86,842.11.

The company has reported an increase in Net Profit by 75.63% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 18.85 crores in this quarter from Rs. 10.73 crores in the corresponding quarter. As per the unaudited report for the 3rd quarter, IGI has a paid-up capital of Rs. 1.08 Arba with a reserve of Rs. 30.26 crores. The company has Rs. 45.32 crores in the insurance fund.

The Net Premium increased by 42.89% to Rs. 51.82 crores in FY 2077/2078 from Rs. 36.27 crores in the corresponding quarter of the previous year. The company has earned Rs. 4.76 crores from income from investment, loans, and other headings and Rs. 13.65 crores from re-insurance income. Its annualized earnings per share (EPS) stood at Rs. 23.24 whereas Net worth per share stood at Rs. 169.87. The company traded at a P/B multiple of 7.40 times.