Gurans Life Insurance closing the auction of 3,22,576 units shares from today; LTP stands at Rs 475

Gurans Life Insurance Company Limited (GLICL) is closing the auction of its unsold 3,22,576 units right shares from today (Ashad 12, 2076). The company is auctioning 2,40,571 units promoter shares and 82,005 units ordinary shares from Ashadh 5-12, 2076. Laxmi Capital Market Limited has been appointed as the issue manager for the auction.

Interested bidders can obtain the application form from Laxmi Capital Market Limited, Naya baneshwor, Kathmandu and also from branch office of Laxmi Bank Limited outside the valley i.e Biratnagar, Pokhara, Hetauda, Birtamode, Janakpur, Narayanghad, Dang (Ghorahi), Nepalgunj, Surkhet, Birgunj, Baglung, Butwal-Milan Chowk, Mahendranagar and Dhangadi. The application form can be obtained at Rs.100 per form.

The applicants can bid for minimum 1000 units for promoter shares and 100 units for ordinary shares at a minimum price of Rs.100 per share. Only existing promoters are eligible to apply promoter shares.

The bid amounts can be deposited in the name of Laxmi Capital Market Limited at Laxmi Bank Limited, Hattisar, Kathmandu  A/C No. 00534010788 or can issue “Good for Payment” cheque in the name of Laxmi Capital Market Limited

The 8% bonus share of FY 2073/74 has raised the paid-up capital of the company from Rs 59.40 Crore to Rs.64.15 Crore and further after the capitalization 50% right shares and existing auction, the paid up capital will be Rs 93.85 Crore.

The 9th AGM has also proposed further issue of 100% right shares worth Rs 93.85 Crore in agenda. After the issue of 100% right shares, the paid up capital of the company will stand at Rs 1.87 Arba.