Book closure for 50% right share of Asian Life Insurance on Magh 8; LTP at Rs 1,420

Asian Life Insurance Company Limited (ALICL) has published a book closure date for upcoming 50% right share issue. As per the notice published today, the book closure date has been set on Magh 8, 2074. Thus, only those shareholders holding their shares till Magh 7, 2074 i.e. day ahead of the book closure date are eligible to apply right shares. ALICL will be issuing 40.27 lakh units right shares worth Rs 40.27 crore to its existing shareholders at a face value of Rs 100 per share. NIBL Capital Markets Limited has been assigned as the issue manager for right share issue. Its paid up capital will reach to Rs 1.21 arba from existing Rs 80.55 crore after adjustment of 50% right shares. To meet the capital requirement of Rs 2 arba, it should hike its capital by Rs 79 crore (around 65%). It had earned net profit of Rs 1.58 crore in the first quarter of fiscal year 2074/75. Its LTP stood at Rs 1,420 as of last trading day. Announcement: