Premier Insurance FPO collects Rs 3.22 arba from 1.83 lakh applicants; 69,956 lucky allottees will be decided through lottery

The Further Public Offering (FPO) of Premier Insurance Company Limited (PIC) has been positively responded by the applicants.

As per Mr. Kamal Nepal, Chief Operation Officer of NMB Capital, the issue manager for the FPO of PIC, the FPO has collected around Rs 3.22 arba from 1,83,846 applicants. The data is yet to be finalized which may also vary meagerly, Nepal added.

Premier Insurance Company Limited (PIC) had issued 6,59,565 units shares worth Rs 52.69 crore as part of its Further Public Offering (FPO) from Poush 16 to Poush 19, 2074. The FPO was issued at Rs 799 per unit (Rs 699 premium added to the par value of Rs 100).

Premier Insurance has a paid up capital of Rs 44.85. Its promoter-public shareholding ratio stands at 60:40. The company is floating FPO shares to make its promoter- public holdings at 51:49. Its paid up will reach Rs 51.44 crore after allotment of FPO shares. To meet the capital requirement of Rs 1 arba as per Insurance Board till Ashad 2075, it should further hike its capital by Rs 48.56 crore (94.40%).

It had earned Rs 2.12 crore in the first quarter of the FY 2074/75.

Its LTP stands at Rs 1,440 as of last trading day.

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