Shikhar Insurance FPO collects Rs 4.38 arba from 17 thousand applicants

Shikhar Insurance Company Limited (SICL) had floated its Further Public Offering (FPO) of 5, 10,988 kittas shares at Rs 650 per unit from Mangsir17 to Mangsir 21. As per the notice published today, the FPO has collected a total of Rs.4.38 arba. NIBL Capital Markets Limited is the issue manager for the FPO. An official with NIBL capital said, “ Approximately 17 thousand applicants applied for the FPO till the last day.” 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 ratio. After issuing 20% bonus share from the net profit earned in the fiscal year 2069/70, the company’s paid up capital has reached to Rs 35.76 crore. The company is yet to announce its dividend from the net profit of fiscal year 2071/72.