NIC Asia Bank Reauctioning Promoter Shares of NLICL and CIT
NIC Asia Bank Limited has opened the auction of promoter shares of NLICL and CIT.
The bank is auctioning 55,866 units promoter shares of National Life Insurance Company Limited (NLICL) and 50,000 units promoter shares of Citizen Investment Trust (CIT). The auction has opened from today, i.e. 23rd Chaitra, and will close on 31st Chaitra, 2077.
It is worth noting that the bank had previously auctioned 61,366 promoter shares of NLICL and 50,000 promoter shares of CIT.
The minimum bid rate for the shares of NLICL is Rs. 466 while the minimum bid rate for shares of CIT is Rs. 1,529. Only banks, financial institutions, and insurance companies are eligible to bid for the promoter shares of CIT. Meanwhile, all eligible investors can bid for the shares of NLICL.
While the minimum permissible bid quantity is 100 units, bidders can bid for the entirety of the issue.
