Prudential Insurance Auction Concludes : Preliminary Cut-off Stood at Rs 603 !!!

Auction for unsold right shares of Prudential Insurance has successfully concluded today.

The Bid opening program of Prudential Insurance Auction was conducted in NIC ASIA Capital. As per the official of NIC ASIA Capital, a total of 268 applicants had applied for the auction and the preliminary cut- off stood at Rs 603.

Prudential Insurance had auctioned 12,503 units unsold right shares to general public. The auction commenced from 12th March (28th Falgun) and ended on 19th March (5th Chaitra). Interested applicants could bid 100 or more unit of shares at a price Rs 100 or above. Applicants bidding the highest price will be allotted with shares. 

Prudential Insurance had floated 30% right from 16th Poush to 21st Magh, 2074. The company floated a total of 12,83,040 unit right shares at a face value of Rs 100 and only 12,503 units were unsubscribed.

PICL was last traded for Rs 579 in the local bourse.