The rights share allotment of Nepal Insurance Company was completed on Bhadra 15, according to the issue manager NIMB S Capital.
The company had issued rights shares from Shrawan 6 to Bhadra 2, during which 19,805 investors applied. All valid applicants received a total of 6,379,925 shares.
Nepal Insurance had issued 6,576,967 rights shares at a par value of Rs.100 each, equivalent to 34.78% of its paid-up capital of Rs.1.89 billion (in the ratio of 10:3.47). However, 197,042 shares remained unsubscribed and will be sold through auction.
The company also stated that the excess application amounts will be refunded to investors via bank accounts through IPS from Bhadra 18.
