IPO Shares of Sanima Life Insurance Limited (SLI) Listed in NEPSE; What's the Opening Range?

2,00,00,000 units shares of Sanima Life Insurance Limited (SLI) are now listed in NEPSE after a successful IPO issue.

The opening range has been set from Rs. 103.17 to Rs. 309.51. If the first transaction is made within this range in the pre-opening session tomorrow, the IPO shares will trade in the secondary market from tomorrow itself.

Sanima Life Insurance Company Limited issued 60,00,000 units worth Rs 60 crore as Initial Public Offering to the general public from (Shrawan 20-24, 2078).

Out of the offered 60,00,000 units; 5% of the total offered shares to the general public i.e. 3,00,000 units were allocated for the employees of the company and 5% for mutual funds. The remaining 54,00,000 units were for the general public. The issue received applications from 23,08,122 valid applicants who had applied for a total of 3,42,79,620 units. Thus, the issue was oversubscribed more than 6.33 times.

As per the allotment module, a total of 5,40,000 applicants were allotted 10 units each via lottery, and the remaining 17,68,122 applicants returned empty hands. A total of 3,00,000 units were allotted to the staff of the company and 3,00,000 units were allotted to the mutual funds.