Nepal Life Insurance FPO collects Rs. 4.66 arba from 35,000 applicants on the second day; oversubscribed by 1.77 times

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 Poush 27, 2073. The issue has collected Rs 4.66 arba on the second day. As per an official of Siddhartha Capital Limited, around 35,000 applicants had applied on the second day. “The issue has collected approximately Rs 4.66 arba from around 35,000 application forms”. However, this data is approximate and the final collection may vary. The FPO has collected Rs 7.81 arba from around 56,000 applicants so far. The FPO applications will close on Magh 2, 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. 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.