Prime Life insurance announces book closure for 160% right share; Book close on Falgun 17

Prime life insurance company announces book closure for 1:1.60 right shares. The shareholders' book will remain closed on Falgun 17, 2074 for the stated purpose. Shareholders having the shares at the time of bookclose will be eligible for the right shares. 

PLIC will issue right shares worth Rs 97.63 crores.

Siddhartha Capital has been appointed as the issue manager for the issue. 

The company received SEBON's approval on 28th Magh for the right share issue. 

The current paid-up capital of PLIC is 61.02 crore which will surge to 1.58 arba after 160% right issue. The company will have to issue additional 41.34 crore to meet the capital requirement of 2 arba.

The company was last traded for Rs 1,709 in the stock exchange.