Nepal Life Insurance FPO collects Rs. 3.15 arba from 21,000 applicants on the first day; issue closing on Magh 2

Nepal Life Insurance Company Limited (NLIC) has been floating 30,96,429 units shares worth Rs 4.41 arba as a part of Further Public Offering (FPO) from yesterday. The issue has collected Rs 3.15 arba on the first day. As per an official of Siddhartha Capital Limited, around 21,000 applicants had applied on the first day. “The issue has collected approximately Rs 3.15 arba from around 21,000 application forms”. However, this data is approximate and the final collection may vary. The FPO applications will close on Magh 2, 2073. The maximum closing date for the offer is Magh 12, 2073. Interested people must apply for a minimum of 10 units of share and they can apply for up to 30,960 units of share. Siddhartha Capital, the issue manager, had published updated list of collection centers yesterday, and issued a press release saying there was no shortage of application forms in their collection centers. The 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 had earned Rs 5.89 crore in the first quarter of the fiscal year 2073/74 as per its unaudited report.