NIC Asia Bank Auctioning Promoter Shares of NLICL and CIT

Tue, Mar 23, 2021 10:16 AM on Latest, Auction,

NIC Asia Bank Limited is going to auction 61,366 units promoter shares of National Life Insurance Company Limited (NLICL) and 50,000 units promoter shares of Citizen Investment Trust (CIT). The auction will open from 10th Chaitra and close on 18th Chaitra, 2077.

The minimum bid rate for the shares of NLICL is Rs. 466 while the minimum bid rate for shares of CIT is Rs. 1,540. Only banks, financial institutions, and insurance companies are eligible to bid for the promoter shares of CIT. Meanwhile, all eligible investors can bid for the shares of NLICL.

While the minimum permissible bid quantity is 100 units, bidders can bid for the entirety of the issue.