Neco Insurance allots 2:1 right shares; 1.07 lakh unit remains unclaimed

Neco Insurance has allotted the 2:1 right shares. 7,863 shareholders are allotted with a total of 38.13 lakh unit shares. Nearly 1.07 lakh unit shares (2.73% of the total issue) remained alloted, which will be auctioned among the general public soon. 

The 50% right shares commenced from 26th Magh and ended on 1st Chaitra, 2074 , which was open for the eligible shareholders who held the shares at the time of bookclose. The Company has successfully allotted the shares on 28th Chaitra, 2074. 

NMB Capital had been managing the issue. 

Neco Insurance had a paid-up Capita of Rs 71.29 crore which will now hike to 1.07 arba. It will meet the capital requirement for non-life insurance upon listing the shares.