Surya Life Insurance apportions 40% right shares; unsold 74,384 units to be auctioned soon

The 40% right offer of Surya Life Insurance Company Limited (SLICL) has been apportioned to the applicants. 

The organization had issued 28,87,500 unit shares for its investors at a face value of Rs 100. Out of the aggregate units 3,289 unit promoter shares and 71,095 unit right offers remained unsold. The unsold right shares will be auctioned among general public soon.

NIC Asia Capital was delegated as the issue administrator for the right issue. 

SLICL's present paid-up capital is Rs 72.18 crore. After the capitalization of 40% right offers, the paid-up capital of the organization will achieve Rs 1.01 arba. The organization has just proposed 12% bonus shares which will expand its paid-up capital to Rs 1.13 arba. 

As of late, the organization has proposed the issuance of 70% right offers which will take its capital to Rs 1.92 arba. Being a life insurance company, SLICL needs to have a paid-up capital of Rs 2 arba before the deadline.