NLG Insurance Company Limited Closing Issue of 10:6.256 Right Shares from Today
Tue, Dec 31, 2024 9:11 AM on Latest, Dividend, Bonus & Rights,
NLG Insurance Company Limited (NLG) is concluding the issuance of right shares in a 10:6.256 ratio to its shareholders at a par value of Rs. 100 today, 16th Poush, 2081. Initially scheduled to close on 1st Poush, the rights offering was extended as per the company's notice and will now conclude on 16th Poush, 2081. The issue was originally opened on 11th Mangsir, 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 17,324 applicants applied for 22,70,352 units of right shares, equivalent to Rs. 22.70 crore. Despite this substantial interest from the applicants, the issue was only subscribed to 23.57% of its total offering as of today.
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.
