Asian Life Insurance Starts Issuing 60% Right Issue

Apr 08, 2019 Merolagani

Asian Life Insurance Company (ALICL) has started issuing 60 percent right shares from April 8. The company is issuing 7,540,352.73 units of right shares in a bid to raise its paid-up capital as per IB directive.

The company closed its book on March 6 for the upcoming 60 percent right shares, thus, the shareholders registered in its book till March 5 are eligible to apply for the right shares.

The company has appointed NIBL Ace Capital as its issue manager. The interested shareholders can apply for the right issue from all C-ASBA approved BFIs till May 12.

Presently, the company has a paid-up capital of Rs 1.25 billion that will reach Rs 2.01 billion after the right issue.

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