NIC Asia Bank Initiates Auction for Promoter Shares of SJLIC, SWMF, and CIT From Today
NIC Asia Bank Limited is selling the promoter shares of SuryaJyoti Life Insurance Company Limited (SJLIC), Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF), and Citizen Investment Trust (CIT) in the auction from today i.e. 25th Poush to 4th Magh.
8,93,825 unit promoter shares of SJLIC, 59,060 unit promoter shares of SWMF, and 50,000 unit promoter shares of CIT are being auctioned. Qualified investors are eligible to bid in the auction of all four companies.
The minimum bid rates for various auctions are as follows: Rs. 159 for SJLIC, Rs. 253 for SWMF, and Rs. 703 for CIT. For SJLIC and SWMF's promoters' shares, the minimum bid quantity is 5,000 units while CIT's minimum bid quantity is 10,000 units, with no upper limit specified.
NIC Asia Capital is the auction manager. As of writing, SJLIC, SWMF, and CIT have an LTP of Rs. 459, 750, and Rs. 2,000 respectively.
