Neco Insurance Limited (NIL) has successfully allotted its 1:0.25 ratio right shares as of Chaitra 31, 2081. Eligible shareholders who applied within the specified window now hold their new shares, while unallotted applicants will receive refunds starting Baishakh 3, 2082. Here’s a breakdown of the process, key dates, and what investors need to know.
Right Share Allotment at a Glance
- Ratio: 1 new share for every 4 existing shares held.
- Total Issued: 50,30,901.55 shares at a face value of Rs. 100 each.
- Allotted Shares: 48,05,640.20 shares distributed to valid applicants.
- Unclaimed Shares: 2,25,261.35 shares (4.47%) will be auctioned to the public/institutions soon.
Critical Dates & Deadlines
Financial Snapshot
- Paid-Up Capital: Rs. 2,01,23,60,619 (2 Arba, 1 Crore, 23 Lakh, 60 Thousand, 619).
- Right Share Value: Rs. 100 per share.
- Refund Process: Unallotted applicants’ funds will be reimbursed directly to their registered bank accounts from Baishakh 3, 2082.
What Happens to Unclaimed Shares?
The 2,25,261.35 unclaimed right shares (4.47% of total issuance) will be auctioned to the general public and institutions. This provides an opportunity for new investors to acquire NIL shares. Details about the auction timeline and process will be announced separately.
Why This Matters for Shareholders
- Expanded Capital Base: The right shares increase NIL’s paid-up capital, strengthening its financial position.
- Refund Assurance: Unsuccessful applicants need not worry—refunds are processed automatically.
- Auction Opportunity: Unclaimed shares offer a second chance to invest in Neco Insurance.
Notice: Neco Insurance Completes Right Share Allotment
