SEBON approves 100% right shares of Gurans Life Insurance; Paid-up capital to scale up to Rs 1.87 arba

SEBON appr...

Securities Board of Nepal (SEBON) has approved the right shares of Gurans Life Insurance (GLICL) at the ratio of 1:1 or 100%. A total of 93 lakh 85 thousand 200 units are being issued at a par of Rs 100.

NMB Capital has been appointed as the issue manager.

The book closure date of this issue hasn't been announced yet.

ICRA Nepal has assigned [ICRANP] IPO Grade 4+, indicating below-average fundamentals to the proposed rights issue of NPR 938.5 million of Gurans Life Insurance Company Limited (GLICL).

The company had already declared 13.10% bonus share of worth Rs 12.29 crore from the profit it made in FY 2074/75, but the book closure is yet to happen of the same. Upon the adjustment of both bonus and the approved 100% right share, the total paid up capital of the company would be Rs 200 crore, thereby meeting the minimum capital requirement set for the life insurance companies of Rs 2 arba soon.