Shikhar Insurance FPO allotment: Small & Big investors allotted 32 % & 5 % respectively, up to 30 units on Small and from 80 to 180 units on Big investors falls under lottery

Shikhar Insurance Company Limited (SICL) has concluded its IPO allotment today at the premises of issue manager NIBL Capital Markets Limited at Lazimpat, Kathmandu at 8:30 AM.

Allotment for investors who had applied from Rs 6,500 or 10 units to Rs 19,500 or 30 units shares on Small investors category and from Rs 52,000 or 80 units to Rs 1,17,000 or 180 units on Other/ Big investors category was decided through lottery and remaining investors who had applied for Rs  26,000 or 40 units to Rs 45,500 or 70 units were allotted 32.5 % to 31.42 % on pro-rata basis. And the other investors applied for Rs 1,23,500 or 190 units to Rs 6,50,00,000 or 1,00,000 units were allotted 5.26 % to 4.90 % on pro rata basis.

Shikhar Insurance had floated its Further Public Offering (FPO) from Mangsir 17,2072 to Mangsir 21, 2072.FPO collected Rs. 4 arba 39 crore (Oversubscribed by 13.23 times) from total 17,161 applications.

Of the total 5,10,988 unit shares set aside for public, 40% or  2,04,395 shares, were put aside for retail investors and 60% or 3,06,593 shares, under “other investor” category.

Of the total 17,161 applicants’ only 17,152 investors got the shares. There were only 9 invalid applicants.

Non allotte investors will get the refunds within 5 days of allotment.

At present Promoter and ordinary shareholders share structure in the insurance company stands at 80:20 ratios. After the FPO, promoter and ordinary shareholders share structure will be at 70:30 ratios.

SICL has announced a 25% stock dividend from the profit of last fiscal year. The FPO investors will also be entitled to the bonus share.

The Last traded price of SICL was Rs 1298/unit as of December 31, 2015.