Himalayan General Insurance right share auction: Rs 352 cut-off price; highest bid amount: 405.5

ShareSansar, March 23:

The auction of 62,875 units of unclaimed right shares of Himalayan General Insurance Company Limited has concluded.

As per the final results, the cut-off price for the scrips was Rs 352, and that there was a tie between two promoters at that price, according to NMB Capital, the issue manager.

The highest bid amount was Rs 405.50.

There were altogether 237 bids for the auctions.

The bids were opened on March 19 for the auctions.

The interested bidders had to apply for a minimum of 100 units of the unclaimed right shares being floated at a face value of Rs 100, and deposit the entire bid amount in advance.

The insurer had invited the bids from March 10.