Prudential Insurance 30% right issue to start from 16th Poush

Prudential Insurance  will be issuing 12,83,040 units (30%) right share to its shareholders at a facevalue of Rs 100 from poush 16th. The offer will end on 21st Magh 2074. 

Only the shareholders holding the shares at the time of bookclose are eligible for the right share. The company had closed its book on 15th Mangshir, 2074.

NIC ASIA Capital is the issue manager for the right issue. 

The insurance currently has a paid-up capital of Rs 42.76 crore. The insurance has recently issued 20% bonus. The capital will reach 64.20 arba after the bonus and right issue. Being a non-life insurance prudential insurance needs to have a capital of 1 arba. The company still needs to raise its capital by Rs 35.80 crore (56%).