Prime Life Insurance to auctioning 2.71 lakh ordinary shares from today ; People outside valley can also participate

Prime life Insurance is auctioning the unclaimed right shares to general public from today.

The company is auctioning 2,71,978 unit ordinary shares to general public from today (2nd Jestha) to 9th Jestha. 

Laxmi Capital will be managing the auction. 

Interested bidders can bid for a minimum of 100 units at a price above the face value i.e Rs 100. One can submit the bids at Laxmi Capital, New Baneswor inside the valley. Or, Branches of Laxmi Bank outside the valley, namely : Birgunj, Biratnagar, Butwal, Pokhara, Surkhet, Nepalgunj and Dhangadi. The payment procedure as prescribed in the application forms has to be followed. 

Prime Life Insurance had floated 160% right shares from 27th Falgun,2074 to 3rd Baisakh, 2075. The unclaimed rights are now to be auctioned among the general public.

Its paid up capital will reach Rs 1.78 arba after 160% right share and 12.50% bonus share capitalization. To meet the capital requirement of Rs 2 arba till the end of Ashad 2075, it further needs a capital of Rs 22 crore.

Prime Life Insurance was last traded for Rs 691