Shikhar Insurance to float 13.62 lakh units FPO shares at Rs 1,620 per unit

Shikhar Insurance Co. Ltd. (SICL) will be floating 13.62 lakh units further public offering (FPO) shares at a premium price of Rs 1,620 per unit (Rs 1,520 added to the par value of Rs 100). As per the notice published in NEPSE today, SICL is coming up with the FPO to maintain its public shareholding ratio to 40%. After the FPO, its promoter-public shareholding structure will be 60:40. SICL has earned Rs 18.01 crore net profit, and Rs 75.83 crore net premium till the second quarter of the ongoing fiscal year 2073/74. Its paid up capital after the capitalization of 60% bonus share stands at Rs 81.76 crore. After the FPO, its paid up will reach Rs 95.39 crore. Its reserve will increase by Rs 2.07 arba.