Shikhar Insurance re- issuing 30% right shares from today; issue to close on 4th Shrawan, 2077

Sun, Jun 28, 2020 12:41 PM on Dividend, Bonus & Rights, Latest,

Shikhar Insurance Company (SICL) is re-issuing 30% right shares from Asad 14, 2077 (today) till Shrawan 04, 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. The 219th Board Meeting of SICL held on Falgun 01, 2076 had decided the book closure to be on Falgun 13, 2076. Therefore shareholders maintained on Falgun 12, 2076 are eligible to apply for the right shares.

Earlier, the company had proposed to issue 30% right shares from Chaitra 13, 2076 to Baisakha 03, 2077. However, after the PM’s address to halt all unessential services to contain the COVID 19 pandemic from spreading, the right issue of the company had been delayed until further notice.

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

The paid-up capital of SICL as of Q3 2076/77 stands at Rs 1.05 arba. After the issuance of 30% right shares, it will reach Rs 1.36 arba. The company is yet to conduct its AGM of FY 2075/76.

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).