34,40,323.73 units promoter shares of National Life Insurance Company Limited (NLICL) have been converted to public shares.
National Life Insurance Company Limited had 65% of the total shares as promoter shares and the remaining 35% as public shares. The 34,40,323.73 units promoter shares make up 10% of the total shares. This conversion has brought the promoter to public ratio to 55: 45.
This decision was taken on the company's 31st Annual General Meeting held on Kartik 24, 2076.