Closing day of 1:0.84 ratio right share issue of Neco Insurance

ShareSansar, April 1:

Today is the last day to get hold of Neco Insurance Company limited (NIL) 1:0.84 right shares. Neco had offered right shares of face value Rs 100 at the ratio of 1:0.84 for its existing shareholders.

The company’s Annual General Meeting last year had endorsed the company's BoD's decision to issue 11,47,784 units of right shares worth Rs 11 crore to meet the company’s paid up capital requirement.

Civil Capital Market Limited is the issue manager of this rights issue.

After the right issue, the company’s existing paid up capital of Rs 13.52 crore will rise to Rs 25 crore.