Prime Life Insurance to auction 2.71 lakh unit unsold right shares from today; LTP stood at Rs 691

Prime Life Insurance Company Limited (PLIC) has published a notice regarding the auction of its unsold ordinary right shares. The bidders can place their bids from Jestha 02, 2075 i.e. today while the auction will end on Jestha 09.

The life insurance company had issued 160% right shares for its shareholders from Falgun 27, 2074 till Baisakh 03, 2075. PLIC has opened auction for 2,71,978 unit ordinary shares.

Interested bidders can bids for minimum 100 unit of shares and the minimum bid price has been set as Rs 100 i.e.the bidders have to place bids for amount more than Rs 100 per share.

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

The insurance company has urged the shareholders to deposit their bid amount in A/C no. 00511153437 in Laxmi Bank  Limited in the name of Laxmi Capital Market.

Its paid up capital will reach Rs 1.78 arba after 160% right share and 12.50% bonus share adjustment from existing Rs 61.02 crore. To meet the capital requirement of Rs 2 arba till the end of Ashad 2075, it should further hike its capital by Rs 22 crore.