ICRA Grants 4+ Rating to Right Share of Prabhu Insurance

March 22: Prabhu Insurance is issuing 2:1 right shares to its existing shareholders. The company will commence the issuance on April 12 to end on May 16. The company is issuing 1,925,078.81 units of right shares with a face value of Rs 100 each. ICRA Nepal has granted 4 plus rating to the right share issuance.

Prabhu Insurance has appointed Prabhu Capital as its issue manager. Interested shareholders can apply for the right shares from all the branches of Sanima Bank and Prabhu Bank. The current Paid-up capital of the company is Rs 385 million which will increase to Rs 577.5 million after the distribution of right shares.

In the second quarter of the current FY, the net profit of the company has increased by 55 per cent than the corresponding period of last FY to Rs 29.2 million.