Surya Life Insurance 25% (12.50 lakh unit) right share offer to start from Shrawan 20; Paid up capital to reach Rs 62.50 cr

Surya Life Insurance Company Limited (SLICL) has called on its existing shareholders to start applying for 4:1 (25%) right shares from Shrawan 20, 2073. According to the notice published by the insurance company today, the rights issue will remain open for 35 days before closing on Bhadra 22, 2073. Only shareholders who have bought the shares and transferred them to their name before the book closure date on Ashad 28, 2073 would be eligible to apply for the right shares. Surya Life Insurance will be issuing a total 12, 50,000 unit right shares at the face value of Rs 100. Laxmi Capital Markets limited has been assigned as the issue manager for the right issue. Interested shareholders can collect the application forms from any branch of Suryalife Insurance Company as well as from Laxmi Capital located at New Baneswor, Kathmandu. After the adjustment of the rights shares, the insurance company total paid-up capital will reach to Rs 62.50 crore from the existing Rs 50 crore. The company has authorized capital of Rs 2 arba. Its public-promoter share structure stand atz 70:30 ratio. Surya Life Insurance had earned a net profit of Rs. 79.09 lakh in the third quarter of the current fiscal year. Its last traded price stood at Rs 945 as on July 17, 2016.