The company is issuing 3,166,677.63 units of right shares worth Rs 316,667,763 at a ratio of 1:0.4 to its existing shareholders.
The company closed its book on May 28 for the right shares, thus, the shareholders registered in its book by May 27 are eligible to apply for the right share.
Prabhu Insurance has appointed Prabhu Capital as its issue manager. The interested shareholders can apply for the shares from Prabhu Capital at Kamaladi, Kathmandu and all ASBA approved BFIs.
Care rating Agency has granted [CARE-NP] IPO Grade 3 to the right issue indicating average fundamentals.
After the issuance, the paid-up capital of the company will exceed Rs 1 billion as per the directive of IB. Presently, the company has a paid-up capital of Rs 688.4 million which will reach Rs 1.50 billion after the right issue.
In the third quarter of the current FY, the company earned a net profit of Rs 180 million with EPS of Rs 37.50 and net worth per share of Rs 207.
