Shikhar Insurance Closing Right Issue From Shrawan 4

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Shikhar Insurance Company Limited (SICL) would sell its 30% stake on Shrawan 4, 2077. The problem had been open since Ashad 14, 2077.

Previously, the correct issue was scheduled to begin on Chaitra 13, 2076 and end on Baisakh 3, 2077. However, because to the government-enforced lockdown, the corporation postponed their right issue.

The right share’s book closure date was Falgun 13, 2076. As a result, investors who hold their shares until Falgun 12 are qualified to purchase the correct share.

Shikhar Insurance will issue 31,71,932 right shares for a total of Rs. 31.72 crores.

On Ashwin 28, the company applied to the Securities Board of Nepal (Sebon) for the issuing of the right share. Sebon has already given final permission.

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Shikhar Insurance’s planned rights offering has been assigned [ICRANP] IPO Grade 3+ by ICRA Nepal, reflecting average fundamentals.

The 10:3 right issue has previously been approved by shareholders at the 14th AGM.

The issue manager for the right is NIBL Capital Limited.

The insurance company’s paid-up capital is currently Rs. 105.73 crores. The capital reaches Rs. 137.45 crores after the proper issue.