Opening Day of Gurans Life Insurance 50% right shares; issue closes on Jestha 1

Opening Da...

Gurans Life Insurance Company Limited (GLICL) is issuing 29,60,000 units right shares (2:1) ratio to its existing shareholders from today (Chaitra 28, 2075). The last day for this right issue is on Jestha 1, 2076.

The book closure date for right share purpose was on 6th Chaitra, 2075. Investors holding shares of the company till 5th Chaitra are eligible for right shares.

The life insurance company is  issuing right shares in the ratio of 2:1 or 50% at par value. The company will be issuing 29,60,000 units as right shares to raise a capital worth Rs 29.60 Crore.

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

The proposed 8% bonus share will raise the paid-up capital of the company from Rs 59.40 Crore to Rs.64.15 Crore and further after the issue of upcoming 50% right shares worth Rs 29.70 Crore, the paid up capital will be Rs 93.85 Crore.

The 9th AGM has also proposed further issue of 100% right shares worth Rs 93.85 Crore in agenda. After the issue of 100% right shares, the paid up capital of the company will stand at Rs 1.87 Arba.

Click here for right share offer letter: