Auction of IME General Insurance shares from today

March 6, 2019 | Investopaper

IME General Insurance is going to auction its unsold right shares from today( Falgun 22, 2075). The company will auction its 1,598 promoter shares and 1,00,766 ordinary shares to the public.

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Global IME Capital is the issue manager for the auction. The auction will remain open until Falgun 30,2075. 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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