Last day to apply for 300% Right Shares of Everest Insurance

Jul 01, 2019 10:24 AM Merolagani

Today is the last day to apply for 300 percent right shares of Everest Insurance Company (EIC). The company started issuing 300 percent right shares from May 28 in a bid to meet the minimum paid-up capital requirement as per IB directive.

The company is issuing 8,219,475 units of right shares to its existing shareholders at a ratio of 1:3.

The company has appointed Siddhartha Capital Limited as its issue manager. The interested shareholders can apply for the right shares from Naxal office of the issue manager, all branches of Everest Insurance, all C-ASBA approved BFIs and through meroshare software.

The company closed its book on April 22 for the upcoming 300 percent right issue. Thus, the shareholders registered in its book till April 21 are eligible to apply for the right issue.

Presently, the company has a paid-up capital of Rs 273.9 million that will reach Rs 1.09 billion after the right issue.

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