Nepal Insurance Company is Auctioning 1,97,042.76 Unclaimed Right Shares From Today

Nepal Insurance Company Limited (NICL) has opened the auction of 4,468.76 units of promoter right shares and 1,92,574 units of ordinary right shares from its previous 10:3.4783 rights offering. The auction opened from today, i.e., 27th Bhadra, and is supposed to close on 5th Ashwin, 2082.

A total of 63,79,925 shares have been allotted to the 19,805 valid applicants. Thus, 1,97,042.76 (2.99%) shares were unclaimed by eligible investors.

Of the total right shares issued, only 63,79,925 (97.01%) units were allotted to eligible shareholders. 2.99% of shares were unclaimed by eligible investors. Thus, the same 1,97,042.76 units of unsold right shares are in auction to the general public from today.

This is the unclaimed portion of the rights offering. From 6th Shrawan to 2nd Bhadra, 2082, the company issued a 10:3.4783 ratio right share issue to its shareholders.

Individuals and institutions are all eligible to bid for the auction.

NIMB Ace Capital Limited has been appointed as the issue manager of this rights share. The minimum bid rate for the auction is set at Rs. 100. For ordinary right shares, the minimum bid quantity is 100 units, and for promoter rights shares, it is 1,000 units. Although bidders are allowed to bid for the entire issue, they must adhere to the regulatory board's rule, which restricts exceeding the specified share quantity per entity.