25.39 Lakh Additional Share Supply of Asian Life Insurance (ALICL) to Enter Secondary Market, Company Converted Promoter Shares

Asian Life Insurance Company Limited (ALICL) has made changes to its shareholding ratio by converting a portion of promoter shares to ordinary shares.

Previously, the promoter to the public shareholding ratio of the company was 70:30. As of writing, the paid-up capital of the company is Rs 2,539,835,000. Thus, promoters own 70,% i.e. Rs. 152.38 crores of the paid-up capital, and the public shareholders own 30%, i.e. Rs. 101.59 crores. 

The 12th AGM of the company endorsed the conversion of shareholding ratio from 70: 30 to 60: 40 by converting a portion of the promoter shares to ordinary shares. Thus, 25.39 lakh promoter shares were converted to ordinary shares. This will mean an additional supply of the same quantity of shares that will be traded in the secondary market as ordinary shares.