Asian life Insurance extends the deadline for 50% right issue; 2nd Baisakh set as new deadline

Asian life Insurance has extended the deadline to apply for 50% right shares. As per the noticed published today, Applicants can now apply for the right shares up to 2nd Baisakh. Previously, 18th Chaitra was specified as the last date for the stated issue. 

Right issue of Prabhu bank commenced from Falgun 13th (Feb 25th, 2018). Shareholders having the shares at the time of bookclose are eligible to apply for right share. The shareholders book closed on 7th Magh 2074. 

SEBON granted an approval for the stated purpose on Poush 23rd. 

NIBL ACE Capital is the issue manager for the right issue. 

Asian life Insurance is issuing 40,27,966.20 unit right shares at a face value of Rs 100. The company currently has a paid-up capital of Rs  80.55 crores which will hike to Rs 1.3 arba after the adjustment of 12% bonus and ongoing right issue.