NLG Insurance starts auctioning unsold right shares from today

Aug 06, 2020 10:34 AM Merolagani

NLG Insurance (NLG) has started auctioning  161,078 units of shares that went unsold during its issuance from today.

The company issued 3,842,437.50 units of right shares to its existing shareholders in the ratio of 10:6 from June 23. The company allocated 3,681,359.5 units of right shares. The remaining 161,078 units of shares will be auctioned through bidding.

The company has appointed Laxmi Capital Market as its issue manager. The interested bidders can bid for the shares from Laxmi Capital Market, designated branches of Laxmi Bank and head office of NLG Insurance. The bidders can bid for a minimum of 100 and maximum of all shares divisible by 10 at a minimum price of Rs 100. The acution will close on August 13.


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