National Life Insurance allots 60% right shares; Remaining 2.78 lakh units to be sold via auction
Fri, Oct 5, 2018 7:57 AM on Dividend, Bonus & Rights, Latest, Stock Market,
National Life Insurance Company Limited (NLICL) has allotted its 60% right shares to the shareholders.
The life insurance company had issued 99,36,477.50 unit shares at par value of Rs 100 for its shareholders. The right shares have been allotted to 96,58,358.20 unit shares to 8,773 valid applicants.
NIBL Ace Capital was appointed as the issue manager for the auction.
Remaining 2,78,119.30 unit shares will be sold via auction in the near future.
After the adjustment of 60% right shares, the paid up capital of NLICL will stand at Rs 2.64 arba meeting the minimum capital requirement of Rs 2 arba.
