August 13, 2020 | Investopaper
NLG Insurance Company Limited is auctioning the 1.61 unsold right shares from Shrawan 22, 2077. The auction will remain open until Shrawan 29, 2077.
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NLG insurance had issued 1:0.6 right share to its shareholders from Ashad 9 to Ashad 25, 2077. The insurance floated 38,42,437.50 units right share worth Rs. 38.42 crores.
Related: NLG Insurance Right Issue
However, out of the total right shares, 161,078 units remained unsold during that period. This includes 81,224.75 promoter shares and 79,853.25 ordinary shares. NLG Insurance is selling these shares in the auction.
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Investors can bid for a minimum of 100 shares at Rs 100 or above. Also, he/she can bid for the full auction shares i.e. 161,078. Highest bidder will receive the shares.
Laxmi Capital Market Limited is the issue manager for the auction of shares of NLG Insurance.
One can purchase the auction form at Rs 100 from Laxmi Capital Market Limited or the allocated branches of Laxmi Bank and NLG Insurance
For full information regarding the auction, click the link below: