Prudential Insurance right shares allotment: 98.58% shares get subscribed; remaining 54,631 units shares to be sold via auction soon

Fri, Jul 17, 2020 6:20 AM on Dividend, Bonus & Rights, Latest,

The 60% right share of Prudential Insurance Company Limited (PICL) has been allotted to the applicants.

The non-life insurance company had issued 38,49,120 unit shares for its shareholders at par value of Rs 100. Out of the total units; 37,94,489 units shares got subscribed by 3,295 eligible applicants. Still, 54,631 units got unsubscribed which is 1.42% of total issue.

The remaining right shares will be sold via auction soon.

NMB Capital Limited was appointed as the issue manager.

ICRA Nepal has assigned [ICRANP] IPO Grade 4+, indicating below-average fundamentals to the proposed rights issue amounting to ~NPR 385 million of Prudential Insurance Company Limited (PICL).

The current paid-up capital of the company stands at Rs.64.15 Crore. After the adjustment of 60% right share, the paid-up capital will increase to Rs.1.02 Arba.

Click here for Right Allotment Notice: