IME General Insurance closing auction of shares from today

March 14, 2019 | Investopaper

IME General Insurance is closing the auction of its unsold right shares from today( Falgun 30, 2075). The company is issuing auction of its 1,598 promoter shares and 1,00,766 ordinary shares to the public. The auction issue was open from Falgun 22, 2075.

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Global IME Capital is the issue manager for the auction.  The minimum price for 1 share is set at Rs. 100. Also, interested applicants can apply for a minimum of 100 shares.

Currently, the IME General Insurance has paid up capital of Rs. 54 crores. After the sale of shares through auction, the capital will rise to Rs. 97.20 crores. Based on the unaudited second-quarter report, the insurance has a reserve of Rs. 14.55 crores and insurance fund of Rs. 20.73 crores. The company collected a total and net premium of Rs. 60.50 crores and Rs. 26.46 crores respectively.


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