Unsold 2 lakh unit promoter shares of Neco Insurance to be reauctioned from Ashadh 5; Auction open for the general investors after existing promoters' disinterest in the previous auction

Kosh Bewasthapan Company Limited is auctioning 2 lakh unit promoter shares of Neco Insurance Limited (NIL) from Ashadh 5, 2075. The interested bidders can place their bids till Ashadh 11, 2075. General public can apply for this auction.

The auction was previously open for the existing shareholders of the company. However, after no applications were received for the auction, it has been opened for the general public.

The minimum bid price for the auction has been set as Rs 242 i.e. the bidders need to place their bids above Rs 242 per share. The bidders should apply for minimum 5,000 unit of shares.

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

The insurance company has urged the bidders to deposit the total bid amount in A/C no 00115276469 of Siddhartha Capital.