General Insurance Company's IPO shares oversubscribed 6.39 times on the third day

General Insurance Company Nepal Limited has issued 30,00,000 units IPO shares to the general public from today, i.e. Ashwin 11, 2077.

According to the issue manager NIBL Ace Capital, the issue received 6,82,772 applications for a total of 1,91,94,830 units as of 5 pm today. Today is the third day of the IPO issue. Thus, the issue is oversubscribed by 6.39 times. This also means that investors will now only get a maximum of 10 units, that too by lottery. 

Since the issue is already fully subscribed, tomorrow is the last day for this issue. 

Out of the offered 30,00,000 units; 4% has been set aside for the employees of the company and 5% for the mutual funds. The remaining 27,30,000 units are for the general public.