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IME General Insurance (IGI) Unveils Book Closure Date for 10: 4 Rights Offering

IME General Insurance Limited (IGI) has unveiled the book closure date for its right offering. Falgun 01 is the book closure. Thus, shareholders maintained before that day can apply for the rights offering when the company issues it.

The 10: 4 rights proposal of IME General Insurance Limited (IGI) was recently approved by SEBON. Now, the insurance company will issue a total of 46,30,344 shares at a par value of Rs. 100 per share. Thus, 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 application was submitted to SEBON on Bhadra 17. The current paid-up capital of IGI stands Rs 115.75 crore, which after the issuance of the right shares will increase to Rs 162 crore.

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