Shikhar Insurance (SICL) and Excel Development Bank (EDBL) Propose to Issue 30% Right Shares
Sun, Jun 13, 2021 4:02 PM on Latest, Dividend, Bonus & Rights, Stock Market,
Shikhar Insurance Company Limited (SICL) and Excel Development Bank Limited (EDBL) have submitted their individual application to the regulatory board to issue the right shares.
Both the companies have proposed to issue rights offering in the ratio 10: 3. For Shikhar Insurance, this translates to 5,275,572.00 shares while for Excel Development Bank, this translates to 2,433,363.67 shares. The insurance company submitted its application on Jestha 25 while the development bank submitted its application on Jestha 27.
NIBL Ace Capital is the issue manager for both the right offerings.
As of writing, SICL has an LTP of Rs. 2,114 while EDBL has an LTP of Rs. 805.
