The company is issuing 3,171,932 units of right shares at a ratio of 10:3 to its existing shareholders.
The company closed its book on February 25 for the right issue, thus, the shareholders registered in its book till February 24 will be eligible to apply for the right issue.
The company has appointed NIBL Ace Capital as its issue manager. The interested shareholders can apply for the right shares from all branches of NIBL Ace Capital and Shikhar Insurance as well as all ASBA approved BFIs and through meroshare. The issue will close on July 19.
Presently, the company has a paid-up capital of Rs 1.05 billion that will reach Rs 1.37 billion after the right issue. ICRA Nepal has assigned Grade 3 rating to the issue indicating average fundamentals.
