May 20, 2022 | Investopaper
Prime Life Insurance Company Limited (PLIC) has informed about the conversion of promoter shares to ordinary shares.
The life insurance company has converted 27,79,615.58 units promoter shares into public (ordinary) shares. These shares will now be traded in the stock exchange at a price of ordinary shares.
After the conversion, the promoter-public share ratio will remain at 60:40.
As of Chaitra’s end 2078 BS, PLIC has a paid-up capital of Rs 277.96 crores. The company has signed a merger agreement with Gurans Life Insurance and Union Life Insurance.