NLG Insurance opening 60% right issue from today; issue will open just for 21 days as per new regulation

Thu, Mar 5, 2020 7:11 AM on Dividend, Bonus & Rights, Latest,
NLG Insura...

NLG Insurance Company (NLG) is issuing 60% right shares i.e 3,842,437.50 units at par of Rs 100 to raise capital worth Rs.38.42 Crore. The issue will open from today ie Falgun 22, 2076 to Chaitra 12, 2076. As per recently amended regulation by SEBON now right shares issue will open just for 21 days.

Laxmi Capital Market Limited has been appointed as the issue manager.

The book closure date for the issue was on Magh 27, 2076. Therefore, shareholders maintained on Magh 26 will be eligible to apply for the right shares.

The company's paid-up capital as of 2075/76 end stood at Rs.64.04 Crore. Post adjustment of 10:6 rights issue, it will reach Rs.1.02 Arba meeting the capital mark.

Announcement