Prudential Insurance refunding non-allottees of share auction; Himalayan’s 1:1.48 right shares allotted

ShareSansar, March 9:

Prudential Insurance Company Limited is refunding the non-allottees of the share auction it held last week from today.

Issuing a notice today NMB Capital, the issue manager, stated that the refund can be collected from its office at Babar Mahal.

The cut-off price for the auction was Rs 402.10 for 11,636 units of ordinary unclaimed shares. There was a tie at Rs 402.10.

Insofar as 21,250 units of unclaimed promoter shares are concerned, two of the promoters agreed to divide the scrips between them at Rs 122 and Rs 112.

The minimum bid price for both kinds of shares was priced at Rs 100, and the bidders had to apply for a minimum of 100 units and deposit the entire bid amount in advance.

Meanwhile, NMB Capital has informed that it has also allotted the 1:1.48 right shares of Himalayan General Insurance Company Limited.

Though insurer had issued 14,92,000 units of the right shares at the issue price of Rs 100 on January 13, 14,29,155 shares were allotted to 1,112 applicants who had duly applied for the shares.

 
Notably, Himalayan Insurance had announced book closure for the right shares on January 1.

The insurer had posted a net profit of 7.13 crore in the last fiscal year 2069/70, and went on to post an impressive profit rise of 52 percent in the second quarter of the current fiscal year 2070/71.