Cutoff of National Life Insurance Company stands at Rs 625; 1778 applications received in total
Mon, Nov 19, 2018 4:04 PM on Auction, Stock Market,
National Life Insurance Company (NLICL) had opened an auction for its unsold 278,119.34 unit shares from Kartik 15, 2075.
NIBL Ace Capital has been appointed as the issue manager for the auction.
According to officials at privy, the tentative cutoff of the auctio stands at Rs 625 and they had received around 1700 applicatios in total. However, the final data will be available tomorrow.
The life insurance company had issued 60% right shares for its shareholders. After the adjustment of 60% right shares, the paid up capital of NLICL will stand at Rs.2.64 Arba, meeting the minimum capital requirement of Rs.2 Arba.
The LTP of NLICL stands at Rs 661 as on Mangsir 02, 2075. Similarly, during the auction ongoing days the price of NLICL lied between Rs 690 to 700.
The company is yet to conduct AGM of last two fiscal years.
