Shikhar Insurance issuing earlier postponed 30% right shares from Ashad 14; issue closes on Shrawan 4

Shikhar Insurance Company (SICL) is issuing earlier postponed 30% right shares from Ashad 14, 2077 to Shrawan 4, 2077.

The company is issuing a 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 Q3 2075/76 stands at Rs 1.05 arba. After the issuance of 30% right shares, it will reach Rs 1.3745 arba.

The book closure date for right issue was on Falgun 13, 2076. Therefore shareholders maintained on Falgun 12, 2076 are eligible to apply for the right shares.

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).