IME Limited, IME Investment Pvt. Limited and IME Holding Pvt. Limited is auctioning the promoter shares of Nepal Insurance Company Limited (NICL) 7,19,205 units each at the bid of Rs. 325 respectively.
A total of 21,57,615 promoter shares are being auctioned. Therefore, all the bids must be placed at Rs 325 or above. The auction is first open to existing promoters for 35 days from the day of the official notice i.e Ashad 24 (today). If not bought by existing promoters, the public and other institutions/ companies will then be eligible to bid for the shares.
NICL has a total of 7,032,879 promoter shares, amounting to 51% of the company's shareholding.