Nepal Life Insurance FPO collects record-breaking collection of over Rs 25.32 arba on the last day; collection from 40 counters pending

Nepal Life Insurance Company’s FPO has collected more than Rs 25.32 arba on the last day (yesterday). Collection amounts from 40 centers is still pending. The issue has collected over Rs 40.5 arba so far, and will likely be the highest collected public offering of Nepal. Mr. Sujan Babu Adhikari, spokesperson for Siddhartha Capital, added that collection data from 40 collection centers is yet to come. As per the data reported to SEBON, the FPO collected more than Rs. 25.32 arba yesterday from around 91,000 application forms. So far, the issue has collected over Rs. 40.5 arba from around 1.95 lakh applicants. The issue has been oversubscribed by 9.17 times. Since the data from 40 collection centers is yet to come, the issue will likely collect over Rs 45 arba from more than 2 lakh applicants. Since the number of applicants will likely cross 2 lakh, the allotment will conclude in 60 days. Non-allottees will have their money refunded from the 65th day. Nepal Life Insurance Company Limited 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.