Nepal Life Insurance FPO and Forward Community IPO given one more week for allotment

Securities Board of Nepal (SEBON) has extended the time for allotment of Nepal Life Insurance Company’s FPO and Forward Community Microfinance’s IPO by one week. As per the officials of both the issue managers, they had already made their respective workplans according to the existing provision. Since they got the new instruction in between their workplan, they had requested SEBON to extend the deadline. Both the issues should now be allotted before Falgun 22, 2073. Earlier, SEBON had instructed the issue managers of these public issues to conclude the allotment by this week i.e. Falgun 13. Due to this instruction, Siddhartha Capital was given 40 days to conclude the allotment of NLIC FPO, and Nabil Investment Banking was given 30 days to conclude the allotment of Forward Community IPO. Nepal Life Insurance Company had floated 30.96 lakh units FPO shares at a premium price of Rs 1,425 per share. Over Rs 52 arba was collected from 2.50 lakh application forms. Similarly, the IPO of Forward Community Microfinance had collected Rs 6.80 arba from 1.30 lakh applications.