IME General Insurance appoints Global IME Capital to issue 80% right shares; paid up to reach Rs 97.2 crore

IME General Insurance Limited (IGI) has appointed Global IME Capital Limited as the issue manager to issue right shares. IGI will be issuing 43.20 lakh unit right shares (80%) at Rs 100 of worth Rs 43.20 crore. Its paid up capital stands at Rs 54 crore and after the issuance of 80 percent right share its capital will reach Rs 97.20 crore. Thus to meet the capital requirement of Rs 1 arba, it should hike its capital by Rs 2.8 crore (around 2.88%). It had earned Rs 2.55 crore in the first quarter of the FY 2074/75. The scrip last traded price stood at Rs 1,090 as of last trading day.