Last day to apply for 40% right issue of Surya life Insurance ; Check eligibility here

Today is the last day to apply for 40% right shares of surya life insurance. The issue commenced on 14th May and is scheduled to close today. 

SLICL is floating 28,87,500 unit shares worth Rs 28.87 crores. The shareholders having the shares at the time of book close are eligible for the right. 

NIC ASIA Capital is the issue manager for the right issue.

Check your eligibilty here : Right Share Eligibility

Surya Life currently has a paid-up capital of Rs 72.18 crores. The issuance of 40% right will increase it to Rs 1.01 arba. In order to meet Insurance board's directive, the company will need an additional 0.99 arba. As per the directive, Life insurance companies need to hike their capital to 2 arba by the end of this fiscal year.