General Insurance's IPO allotment to be streamed live via NIBL Ace Capital's FB page at 10:30 am tomorrow

General Insurance Company Nepal Limited's IPO shares will be allotted tomorrow at 10:30 am, i.e. Ashwin 20.

The issue had received 8,13,725 applicants for a total of 2,24,77,030 units till the last day. This is the highest number of applicants an IPO issue has ever witnessed.

Out of the offered 30,00,000 units; 4% was set aside for the employees of the company and 5% for the mutual funds. The remaining 27,30,000 units were for the general public. Thus, only 2.73 lakhs applicants will be allotted 10 shares via the lottery.

Only 2.73 lakh applicants will be allotted 10 units each via the lottery. The lottery and the allotment will be streamed live via NIBL Ace Capital's Facebook page. 

After the issuance of 30,00,000 units of IPO shares, the company's paid-up capital will be Rs. 1 Arba, and the promoter/public ratio will be 70:30. The company’s profit has increased from Rs. 3.62 crores to Rs. 5.06 crores in the fourth quarter of the last fiscal year 2076/77.