Nepal Insurance Company auctioning 1.61 lakh unit unclaimed right shares from today; LTP Rs 680

The auction of Nepal Insurance Company is commencing from today and is scheduled to end on 10th Ashad, 2075. 

The company is auctioning 2,177.30 units promoter shares and 1,58,946.80 units ordinary shares at a price Rs 100 or above. The minimum bid unit needs to be 1000 for promoters and 100 for ordinary type shares. 

NIBL ACE Capital is managing the auction. 

Interested bidders can submit their bid at NIBL ACE Capital, Lazimpat or any of its branches. Similarly, bid can also be submitted at branches of Nepal Investment Bank in Surkhet, Nepalgunj, Narayanghat and Dhangadi. 

Nepal Insurance Company had floated 100% right shares from 5th Baisakh to 8th Jestha, 2075. The unsold right shares at that time are now being auctioned. The company's capital will shoot to Rs 61.76 crores after the capitalization of right and 4.52% bonus shares.