Siddhartha Insurance to sell unsold 37,216.50 unit right shares via auction; Auction begins from Ashoj 19

Siddhartha Insurance Company Limited (SIL) will be selling its unsold 37,216.50 unit right shares via auction from Ashoj 19, 2075. Interested applicants can place their bids till Ashoj 26, 2075.

The insurance company is selling 799.60 unit promoter shares and 36,416.90 unit ordinary shares.

The minimum bid price for the shares is set as Rs 100 i.e. the bidders need to place their bids above Rs 100. Applications can be placed for minimum 100 units for any of the shares.

NMB Capital has been appointed as the issue manager for the auction.

The insurance company has urged the bidders to deposit total bid amount in A/C no 0010060054010000216 of NMB Bank or A/C no 04100300202302000001 of Kamana Sewa Bikas Bank in the name of NMBCL-Right SIL 2074/75.

The company had issued 35% right shares to its shareholders. After the adjustment of the right shares, the paid-up capital of the insurance company will reach Rs 86.59 crore.