Nepal Insurance Conducting SGM Today | To Issue 40 Percent Right Share

May 17, 2024 | Investopaper

Nepal Insurance Company Limited (NICL) is planning to sell right shares to the shareholders. The company has decided to float the right shares in the ratio 1:0.4. This means that the shareholders with 100 shares can apply for the additional 40 shares.

For this purpose, the company is taking the agenda of right issuance to its upcoming Special General Meeting (SGM) to be held on Jestha 4, 2081 BS. After the approval from its SGM, the company will begin the procedures for right offering

At present, Nepal Insurance has a paid up capital of Rs. 164.42 crores. Hence, the company has plans to sell right shares worth Rs. 65.76 crores. After the right issue, the paid-up capital will reach Rs. 230.19 crores.

As per the direction of Nepal Insurance Authority, the non-life insurance companies are required to meet the minimum capital of Rs. 250 crores. Hence, Nepal Insurance has opted for the right issue in order to reach the capital requirement.


How to apply IPO/FPO/Right Share through Mero Share?

Leave a Reply

Your email address will not be published.

error: Content is protected !!