IME General Insurance Limited is issuing a 10: 4 ratio rights offering. The issue will open today, i.e. on Falgun 22 and close on Chaitra 13.
46,30,344 units will be issued to eligible shareholders at a par value of Rs. 100 per share. Falgun 01 was the book closure. Thus, shareholders maintained before that day can apply for the rights offering.
The 10: 4 ratio indicates that shareholders who own 10 shares of the company can apply for 4 shares in the rights offering (and so on). This rights offering will raise over Rs. 46.30 crores for the company.
Global IME Capital has been appointed the issue manager. The current paid-up capital of IGI stands Rs 115.75 crore, which after the issuance of the right shares will…
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