FPO of premier insurance on 16th poush; issuing at Rs 799

Premier Insurance company limited (PIC) is issuing 6,59,565 shares as FPO to public adding Rs 699 premium on par value Rs 100, making its issuing price Rs 799.

Company will float its share in the market for public from 16^th poush to 19^th poush. In case of FPO being undersubscribe date will be extend to 15 magh.

Minimum 10 kitta and maximum 3,290 kitta can be applied, but it is recommended to apply 10 kiita because there is a high probability to be allotted through lottery.

The authorized capital of company is 2 arba and issued capital 1 arba 50 crore, and maintaining its current paid-up capital to 44.85 crores. After issuing FPO its paid-up capital will hike to 51.44 crore. The insurance company currently has a promoter public ratio of 60:40. The promoter share holding will dilute of 51% after the upcoming issue.  

NMB capital is appointed as issuing manager.

Interested investors can apply for FPO from any bank and their branches providing ASBA service .

The company has earned Net profit of 2.12 crores as of 1st quarter 2073/74. Net worth of company stands at Rs 211, maintaining its EPS at 18.95

The last traded price of PIC is Rs 1480.