Neco Insurance Limited (NIL) has decided to extend the deadline for its rights offering. The offering, which started on February 20, 2025 (8th Falgun, 2081), was originally set to close today, but the company has now extended the deadline until March 28, 2025 (14th Chaitra, 2081).
The company is issuing 25% right shares, totaling Rs. 50.30 crore, by offering 5,030,901.55 units of right shares to its existing shareholders at a 1:0.25 ratio. Currently, Neco Insurance’s paid-up capital is Rs. 2.01 Arba. After the rights offering, the capital will increase to Rs. 2.51 Arba.
As of 5 PM yesterday, the Central Depository System and Clearing (CDSC) reported that 24,457 applicants have requested 2,033,821 units of right shares, amounting to Rs. 20.33 crore.
Sanima Capital Limited has been appointed as the issue manager for this rights share offering.
