Preliminary cutoff for auctioned promoter and ordinary shares of Asian Life Insurance Company stands at Rs 216.66 and Rs 346 respectively; Details to follow

Asian Life Insurance Company Limited (ALICL) had auctioned unsold 2,21,359.73 units right shares. It included 2,420.70 units promoter shares and 2,18,939.03 units ordinary shares.

NIBL Ace Capital Limited has been appointed as the issue manager for the auction.

According to the issue manager, the preliminary cut off for promoter shares stands at Rs 216.66 and Rs 346 for ordinary shares. The bid opening is still ongoing so the final data may vary slightly. The officer informed that detail information will be available at the end of the day.

Asian Life Insurance had issued 60% right shares to its shareholders. The current paid up capital of the company is Rs 1.25 Arba which will cross Rs 2 Arba after the right shares and completion of auction process.