Neco Insurance allots 38.13 lakh unit right shares; Unsold 1.07 lakh unit to be sold through auction
Fri, Apr 13, 2018 4:57 AM on Dividend, Bonus & Rights, Latest, Share Allotment, Stock Market,
Neco Insurance Limited (NIL) has allotted its right shares to the shareholders. The company had floated 50% right shares worth Rs 39.20 crore.
The company had floated right shares from Magh 26 till Chaitra 01. The non-life insurance company has allotted 38,13,659 unit right shares to 7,863 applicants.
NMB Capital was appointed as the issue manager for the right share issuance.
The unsold 1,07,269.11 unit shares will be sold through an auction in the near future.
After the adjustment of 50% right shares, the paid-up capital of the company will stand at Rs 1.17 arba. It had posted net profit of Rs 21 crore in the second quarter of FY 2074/75.
