United Ajod Insurance Limited is set to sell its unclaimed rights shares through an auction process. The company will auction a total of 63,847 units of ordinary rights shares and 6,633 units of promoter rights shares.
The auction will remain open from Jestha 29, 2083, to Ashad 8, 2083.
Earlier, the company had allotted 22,39,520 units of rights shares to eligible applicants. Out of this, 96.95% of the total allocation was subscribed, while 3.05%, equivalent to 70,480 units, remained unclaimed by investors. These remaining shares are now being offered through an auction process.
The auction includes 63,847 units of ordinary rights shares and 6,633 units of promoter rights shares that were not claimed during the rights issuance.
The auction will be managed by Laxmi Sunrise Capital Limited, which has been appointed as the issue manager.
Both individual and institutional investors are eligible to participate in the bidding process. The minimum bid price has been set at NPR 100 per share. For ordinary rights shares, the minimum bid quantity is 100 units, while for promoter rights shares, the minimum bid quantity is 1,000 units.
Investors are allowed to bid for all available shares; however, they must comply with regulatory limits on maximum shareholding per entity as prescribed by the relevant authorities.
This auction provides an opportunity for investors to acquire unclaimed rights shares from the insurance sector through a competitive bidding process.
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