Surya Life issues rights shares to meet paid up
Sun, Aug 25, 2013 12:00 AM on Dividend, Bonus & Rights,
ShareSansar, Aug 25:
Surya Life Insurance Company has announced to issue 8,87,000 unit rights shares at the ratio of 10:2.15657671. The move was expected as the company is obliged to increase its paid up capital, which is currently at Rs 41.13 crore, to Rs 50 crore.
Insurance Board has directed life and nonlife insurance companies to increase their paid up capital to Rs 50 crore and Rs 25 crore respectively.
The company posted a profit of Rs 43.57 crore for the FY 2069/70.
Its EPS stands at Rs 8.65 and net worth at Rs 111.37.
Elite Capital Limited has been appointed the issue manager for the rights shares.
