Nepal Insurance to Issue 34.78% Rights Shares from Shrawan 6 – Applications Open Till Shrawan 26

Nepal Insurance Company Limited (NICL) is set to issue its rights shares starting from Shrawan 6. The company is offering 34.783% rights shares on its current paid-up capital, which means existing shareholders will be able to apply for 3.4783 shares for every 10 shares held.

NICL will issue 6,576,967.76 units of rights shares at a par value of Rs. 100 per share, totaling Rs. 657,696,776. For this issuance, the book closure was set on Jestha 30, and shareholders holding shares till Jestha 29 are eligible to apply. The application deadline is Shrawan 26.

Infomerics Credit Rating Nepal has assigned NICL a rating of IRN Single A Minus, indicating a sufficient level of safety for timely financial obligations. NIMB Ace Capital is managing the issuance process. Shareholders can apply through the sales manager’s office, participating ASBA member banks and financial institutions, or online via the Mero Share platform using the CASBA system.

Currently, NICL’s paid-up capital stands at Rs. 1.89 billion, which will increase to Rs. 2.54 billion after the issuance and allotment of the rights shares.