Shikhar Insurance Company to Issue 30% Right Shares; Company Appoints Issue Manager

NIBL Ace Capital Limited has been appointed issue manager for the rights issue of Shikhar Insurance Company Ltd. 

The 15th and 16th AGM of the company held on Chaitra 09, i.e. March 22 endorsed a 27.769% bonus shares and 1.462% cash dividend for the fiscal year 2076/77. The AGM then also endorsed 30% right shares issuance after capital adjustment post-bonus shares distribution. The proposal was then approved by Beema Samiti.

SICL is a company with a vision, geared up to face every challenge that persists in the insurance industry, the issue manager's press release reads. The insurance company will issue a total of 52,75,572 shares to its shareholders, which is 30 percent of the existing paid-up capital.

The agreement for the same was done between Mr. Suraj Rajbahak (Company Secretary, Shikhar Insurance Company Ltd.) and Mr. Mekh Bahdaur Thapa (Deputy Chief Executive Officer, NIBL Ace Capital Ltd.) and Mr. Sachindra Dhungana (Assistant General Manager, NIBL Ace Capital Ltd.).