Nepal Life Insurance 30.96 lakh units FPO shares allotment likely within this week

Nepal Life Insurance Company Limited (NLIC) had floated 30.96 lakh units FPO shares at a premium price of Rs 1,425 per share from Poush 27, 2073 till Magh 2, 2073. Mr. Dhruba Timalsina , CEO of Siddhartha Capital Limited said, “The allotment of the FPO will most probably take place on Falgun 20, 2073.” The premise and time of the allotment are yet to be finalized, added Mr. Timalsina. Siddhartha Capital Limited is the issue manager for the FPO. The FPO was oversubscribed by more than 12 times till the last day. Around 2 lakh 46 thousand application forms were received. Interested people were required to apply for a minimum of 10 units of share and they can apply for up to 30,960 units of share. The life insurance company has a paid up capital of Rs 2.16 arba. After the issuance of the FPO, its paid up capital will reach to Rs 2.47 arba. Reserve will grow by Rs. 4.1 arba. Nepal Life Insurance Co. Ltd. has earned Rs 15.30 crore in the second quarter of the fiscal year 2073/74. Nepal life Insurance will be endorsing 25 percent bonus share to its shareholders, the AGM will be held on Chaitra 14, 2073. After the issuance of 25% bonus shares, its paid up capital will reach Rs 3.1 arba.