IPO Allotment Tomorrow at 11: Sanima Life Insurance Allotting IPO Shares

Sanima Life Insurance Company Limited is allotting its IPO shares tomorrow. The allotment will commence tomorrow, i.e. Saturday at 11 am. The company opened the IPO issue for 60,00,000 units of ordinary shares from Shrawan 20, 2078, and concluded the issue on Shrawan 24, at the end of banking hours.

Out of offered 6,000,000 units; 5% of the issued capital i.e., 300,000 units were allocated for the employees of the company and 5% for mutual funds. The remaining 5,400,000 units were for the general public.

Prabhu Capital Limited was appointed the issue manager for the IPO issuance. According to the issue manager, 24,19,127 applicants have applied for a total of 3,69,43,440 units. This is the data after the issue concluded. Thus, the issue is oversubscribed 6.84 times. Note that the final data may change after the nullification of invalid applicants.

The paid-up capital will reach Rs. 2 Arba after the issuance of the public shares. After the IPO issue, public holding will be 30% and promoters holding will be 70%.