Shikhar Insurance Appoints NIBL Capital Market as Issue Manager

February 2: Shikhar Insurance has appointed NIBL Capital Markets as its issue manager. The company appointed the issue manager in a bid to manage the new share issuance to be floated soon.

A memorandum of understanding was signed between the companies amid a program on January 1. The 12^th annual general meeting of the company took a decision of issuing the new share in order to increase the general share ratio to 40 per cent.  

The company is issuing 1,362,781 units of general shares with a premium of Rs 1520 at the price of Rs 1620.