Shikhar Insurance issuing 30% right shares from Chaitra 13; Company to raise Rs 31.71 crore

Shikhar Insurance Company (SICL) is issuing 30% right shares from Chaitra 13, 2076 to Baisakha 03, 2077.

The company is issuing total of 31.71 lakh units right shares for its existing shareholders at a par of Rs 100 per share.

NIBL Ace Capital is appointed as the issue manager of the right issuance.

The paid-up capital of SICL as of Q4 2075/76 stands at Rs 1.05 arba. After the issuance of 30% right shares, it will reach Rs 1.36 arba.

ICRA Nepal has assigned [ICRANP] IPO Grade 3+, indicating average fundamentals to the proposed rights issue amounting to ~NPR 317 million of Shikhar Insurance Company Limited (SICL).

Announcement