Asian Life Insurance Company Limited is Auctioning 3,58,512.48 Unclaimed Right Shares from Today

Asian Life Insurance Company Limited (ALICL) is set to auction 30,038.57 units of promoter right shares and 3,28,473.91 units of ordinary right shares from its previous 1:0.42 rights offering. The auction will open from today, i.e., from 22nd Bhadra to 29th Bhadra, 2082.

A total of 1,39,20,800 shares have been allotted to the 27,622 valid applicants. Thus, 3,58,512.48 (2.51%) shares were unclaimed by eligible investors.

Of the total right shares issued, only 1,39,20,800 (97.49%) units were allotted to eligible shareholders. 2.51% of shares were unclaimed by eligible investors. Thus, the same 3,58,512.48 units of unsold right shares will now be auctioned to the general public from the 22nd Bhadra.

This is the unclaimed portion of the rights offering. The company had issued a 1: 0.42 ratio right share issue to its shareholders from 22nd Ashadh to 20th Shrawan, 2082.

Individuals and institutions are all eligible to bid for the auction.

Muktinath Capital Limited has been appointed as the issue manager of this rights share. The minimum bid rate for the auction is set at Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units, and 1,000 units for the promoter rights shares. Although bidders are allowed to bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.