Deadline Extended for 10:6.256 Right Offering of NLG Insurance Company
Mon, Dec 16, 2024 8:31 AM on Dividend, Bonus & Rights, Latest,
NLG Insurance Company Limited (NLG) has extended its rights offering deadline. The company opened its rights offering on 11th Mangsir, 2081. The issue was supposed to close today i.e. on 1st Poush but as per the notice, the rights offering will now conclude on 16th Poush, 2081.
The company will issue 62.56% right shares worth Rs. 96.31 crore through the issue of 9,631,220.22 (1: 0.6256) units of right shares to its existing shareholders. The current paid-up capital is Rs. 1.53 Arba. After adjusting the proposed right share, i.e., 9,631,220.22 units, the company's paid-up capital will increase to Rs. 2.50 Arba.
According to the CDSC, a total of 14,680 applicants applied for 21,06,948 units of right shares, equivalent to Rs. 21.06 crore. Despite this substantial interest from the applicants, the issue was only subscribed to 21.87% of its total offering as of now.
Laxmi Sunrise Capital Limited has been appointed as the issue manager for this right issue.
The book closure date was scheduled on 27th Kartik, 2081. Thus, the shareholders maintained until the same are deemed eligible for the rights offering.
