Neco Insurance Limited (NIL) has announced an extension to its rights offering deadline. The rights offering initiated on 8th Falgun, 2081, was originally set to close today, 8th Falgun, 2081; however, according to the recent notice, it will now wrap up on 14th Chaitra, 2081.
The firm will be releasing 25% of right shares valued at Rs. 50.30 crore by offering 50,30,901.55 (1: 0.25) units of right shares to its existing shareholders. Currently, the paid-up capital stands at Rs. 2.01 Arba. Following the adjustment of the proposed right shares, namely 50,30,901.55 units, the paid-up capital will rise to Rs. 2.51 Arba.
As per the CDSC, 24,457 applicants have requested 20,33,821 units of right shares, totaling Rs. 20.33 Crore. This information is accurate as of 5 pm yesterday.
Sanima Capital Limited has been designated as the issue manager for this rights offering.
The book closure date was set for 17th Magh. Therefore, shareholders who were registered by that date qualify for the rights offering.
