IME General Insurance’s 80% right share in SEBON pipeline for approval; Paid up capital to reach Rs 97.20 crore

The right share of IME General Insurance Limited (IGI) has been added in the SEBON’s pipeline for approval. The 80% right share issue of 43.20 lakh unit shares of the insurance company has been added in the pipeline for approval. Global IME Capital Limited has been appointed as the issue manager for the right issue. The current paid up capital of the microfinance is Rs 54 crore and after the 80% right issue the bank’s capital will increase to Rs 97.20 crore. The company had earned Rs 4.82 crore in the second quarter of the current fiscal year. Its LTP stood at Rs 730 yesterday.