Asian Life Insurance Is Closing Auction of Unclaimed Rights Shares Today

Asian Life Insurance Company Limited (ALICL) is closing the auction of 30,038.57 promoter right shares and 3,28,473.91 units of ordinary right shares from its previous 1:0.42 rights offering today, 5th Ashwin, 2082. The auction had opened on 22nd 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 are in auction to the general public.

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

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.