General Insurance Company’s Shares will be traded in the secondary market from Tuesday, October 13. A listing agreement will be signed between the Nepal Stock Exchange (Nepse) and General Insurance Company on Monday. IPO shares will be traded Tuesday for the first time in the secondary market after listing in Nepse.
General Insurance Company shares will be traded under GIC script code in Nepse. The minimum price of the share been set at Rs 104.02 and the maximum price is Rs 312.06 for the secondary market on Tuesday. The first transaction of share should be the set price range.
General Insurance Company IPO date
General Insurance Company is going to open IPO to the public from Ashoj 11. The company is about to issue 30 Lakh IPOs at a face value of Rs 100. The IPO is opening worth of Rs. 30 crore. NIBL S Capital Limited is the manager of the issue and sales manager of the company.
General Insurance company is issuing 30 Lakh ordinary share IPO for the general public. Out of the total IPO shares, 120,000 shares have been allocated for employees of the company and 150,000 shares for mutual funds. The general public will be able to apply for the remaining 27 Lakh IPO shares.
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IPO opening dates
General insurance is opening the IPO for the public from Ashoj 11. IPO can submitted from Asoj 11 through CASBA bank and through Mero Share. The IPO closing date is Ashoj 14. Applications for the company’s IPO can be submitted till Ashoj 14th.
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How many kitta to apply
Investors will be able to apply for a minimum of 10 kittas and a maximum of 10,000 kittas. IPO share face value is Rs 100 each. Before apply IPO, The amount should be available in the bank account connected to the CASBA bank, otherwise, in the time of review application could be rejected.
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Interested investors can apply from all the banks and financial institutions that have availed ASBA services. Similarly, the application can applied through Mero Share. The company has appointed NIBL S Capital Limited as the manager of the share issue and sale.
Currently, the company’s paid-up capital is Rs 70 CRORE. The company’s paid-up capital will reach Rs 1 Arba after the IPO. The insurance company had earned a net profit of Rs 5 Crore 6 lakh by the end of last fiscal year by earning a net premium of Rs 20 Crore 96 Lakh. The company, which had a paid-up capital of Rs 70 Crore during the period, has an annual earnings per share of Rs 7.23. The company has accumulated Rs 4.66 Crore in the reserve fund.