Preliminary cutoff for promoter and ordinary shares of Surya Life at Rs 127 and Rs 222 respectively

Surya Life Insurance Company (SLICL) auctioned its unsold right shares from Kartik 24, 2076 to Mangsir 01, 2076.

SLICL had issued 70% right shares to its shareholders. Of the total 88.74 lakh units offered, 3.09 lakh units were unsubscribed. Therefore the company had auctioned 27,389.2 units promoter share and 2,81,912.8 units ordinary shares.

NIC Asia Capital is the issue manager of the auction.

According to the issue manager, the preliminary cutoff for ordinary shares stands at Rs 222. A total of 728 applications were received and the maximum bid stood at Rs 265. However, one application was received at Rs 400 applying for 100 units.

Likewise, the preliminary cutoff for promoter shares stands at Rs 127. A total of 4 applications were received with the highest bid at Rs 151.