Asian Life Insurance right shares allotment: 97.06% shares get subscribed; remaining 2,21,359.73 units shares to be sold via auction soon

Asian Life Insurance Company Limited (ALICL) has concluded the allotment process of the 60% right shares issued by the company.

As per the notice published, the life insurance company had issued 75,40,352.73 units as right shares to its shareholders. Out of the issued shares, 14,783 valid applicants were allotted 73,18,993 units. The allotment process took place on Jestha 21, 2076.

The company will also be refunding money to the non-allottee who have applied more units than the rights from Jestha 27, 2076.

The remaining 2,21,359.73 units will be put up for auction soon.

The current paid up capital of the company is Rs 1.25 Arba which will cross Rs 2 Arba after the issue of right shares and completion of auction process.