Nepal Insurance Rights Issue Closes Today: Capital to Rise Beyond Rs 2.54 Billion

Nepal Insurance Company Limited (NICL) is closing its rights share issuance today (Bhadra 2). The company had opened the offering on Shrawan 6, providing existing shareholders the opportunity to apply for 34.78% rights shares, equivalent to 3.4783 new shares for every 10 currently held.

Accordingly, NICL floated 6,576,967.76 units of rights shares, each priced at Rs 100, amounting to Rs 657.7 million in total. For eligibility, the company had set the book closure date on Jestha 30, meaning shareholders registered till Jestha 29 could apply.

For this issuance, Infomerics Credit Rating Nepal assigned NICL an IRN Single A Minus (Issuer Rating), reflecting adequate safety and a strong ability to meet financial obligations on time. The issue manager for this rights offering is NIMB Ace Capital Limited. Applications can be submitted via the manager’s offices, participating ASBA member banks and financial institutions, or through the online Mero Share platform.

Currently, NICL’s paid-up capital stands at Rs 1.89 billion. After the allotment of rights shares, it will rise significantly to Rs 2.54 billion, strengthening the insurer’s financial base.