Prabhu Life Insurance's IPO Oversubscribed on the First Day; Is there Room for More Applicants?
Mon, Dec 14, 2020 4:32 PM on IPO/FPO News, Latest,
Prabhu Life Insurance Limited has issued 60,00,000 units worth Rs 60 crore as Initial Public Offering to the general public from today, i.e. Mangsir 29. The early closing date of this issue is on Poush 2. If the issue is not fully subscribed till Poush 2, it can be extended to Poush 13, 2077.
Out of the offered 60,00,000 units, 5% is set aside for the employees of the company and another 5% for mutual funds. The remaining 54,00,000 units are for the general public. Applications can be placed for a minimum of 10 units and a maximum of 5,000 units.
Siddhartha Capital Limited is the issue manager for the IPO issuance. According to the issue manager, the issue has received 2,79,895 applications for a total of 87,47,310 units. This data is of 4:30 PM on the first day itself. Thus, in terms of the number of units, the issue is oversubscribed by a little over 1.61 times. Nevertheless, looking at the number of applications, there is still room for more applicants.
