Nepal Life Insurance FPO allotment concludes; up to 160 units decided through lottery, Others allotted 5.63% on pro-rata basis

Nepal Life Insurance Company Limited (NLIC) has concluded allotment of 30.96 lakh units FPO shares at Star Venue, Naxal, Kathmandu today at 8:30 AM. Small investors who had applied from Rs 14,250 (or 10 units) to Rs 42,750 (or 30 units) were allotted 23.22%. Since the subscribed kitta was less than 10, allotment for all the retail investors were decided through lottery. For Other investors, up to 160 units was decided through lottery and allotted 10 units shares. All applicants who had applied Rs 242,250 (or 170 units) and above got at least 10 shares and were allotted 5.63% on pro-rata basis. Investors who had applied for 30 units were decided through lottery and allottees were allotted 10 units; whereas those who applied for 30,960 units got 1,741 shares. Out of total 255,053 valid applicants, 165,564 investors got the shares. There were 162 invalid applicants. The shares set aside for Retail investors (who had applied from 10 to 30 units) was oversubscribed by 4.31 times and those set aside for Other category (who had applied from 40 to 30,960 units) was oversubscribed by 17.78 times. Individual lottery results can be checked at ShareSansar’s IPO Result section later today. Lottery process has not been completed yet. NLIC had floated 30,96,429 units shares worth Rs 4.41 arba as part of its Further Public Offering (FPO) from Poush 27 to Magh 2, 2073 at Rs 1,425 per share. Siddhartha Capital was the issue manager for the FPO. NLIC has earned Rs 15.30 crore in the second quarter of the fiscal year 2073/74 as per its unaudited report. After the capitalization fo FPO shares, its paid up capital has reached Rs 2.47 arba and reserve has grown by Rs 4.1 arba. Its promoter – public shareholding structure after the FPO now stands at 70:30 ratio. It has also proposed 25% bonus shares for the FY 2072/73. All FPO allottees are also eligible for the proposed bonus shares. After the issuance of bonus, its paid up capital will reach Rs 3.1 arba.