The Securities Exchange Board of Nepal (SEBON) has begun a preliminary review of Prabhu Insurance Company Limited’s (PRIN) right shares. The application was submitted on Ashadh 19, 2081.
Prabhu Insurance aims to issue right shares amounting to 50.15% of its current shares, worth Rs. 85.50 Crores, by offering 8,350,135.44 units (1:0.5015) to existing shareholders. The company’s current paid-up capital of Rs. 1.44 Arba will increase to Rs. 2.27 Arba after the right shares are adjusted.
NIC Asia Capital Limited has been appointed as the issue manager.
About Prabhu Insurance Company Limited (PRIN)
Prabhu Insurance Limited, a prominent non-life insurance company in Nepal, was established in 2053 B.S by leading industrial and business houses of the country. The major shareholders are the Prabhu Group and the Employees’ Provident Fund. The company’s current paid-up capital exceeds Rs. 1.37 billion, and it operates through 60 branches and sub-branches across Nepal. Mr. Rajendra Malla serves as the Chairman, and Mr. Sanchit Bajracharya is the Chief Executive Officer.
Since its inception, Prabhu Insurance has built a strong reputation as a reliable insurer in Nepal’s non-life insurance sector. The company is known for providing high-quality insurance services and issuing necessary insurance policies promptly.
