Cutoff of Asian Life stands at whopping Rs 720.59, where its LTP stands at Rs 727; Maximum bid received at Rs 802
Wed, Jun 6, 2018 6:59 AM on Auction, Latest, Stock Market,
Asian Life Insurance Company Limited (ALICL) had opened an auction for 98,246.20 units ordinary shares from Jestha 10, 2075.
ALICL had issued 40,27,966.20 units right shares in the ratio 2:1 at a par value of Rs 100 per unit to its shareholders from Falgun 13, 2074. A total of 39,29,720 unit right shares were allotted to the applicants and the remaining unclaimed right shares were being auctioned.
NIBL Ace Capital Limited is the issue manager for the auction of the shares.
The minimum bid price had been set as Rs 100.However, the cutoff of the auction was a whopping Rs 720.59. The LTP of the scrip stands at Rs. 727. According to the officials at NIBL Ace, a total of 493 applications were received among whuch 125 were allotted. Similarly, the maximum bid received stood at Rs 802.
After the adjustment of 50% right shares and recently declared 4% bonus share of 73/74 FY, its paid-up capital will reach Rs 1.25 arba.
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