KATHMANDU, Dec 25: The IPO allotment of Prabhu Life Insurance have concluded on Friday at the premises of Siddhartha Capital Limited.
Prabhu Life has issued 60,00,000 units worth Rs 60 crore as Initial Public Offering (IPO) to the general public. Out of the offered 60,00,000 units; 5% of the total offered shares to the general public i.e. 3,00,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 3,00,000 units have been set aside for the mutual funds. The remaining 54,00,000 units are for the general public.
The issue had received applications from 10,49,047 valid applicants who had applied for a total of 2,78,21,160 units. The issue was oversubscribed by more than 5.15 times.
As per the allotment module, a total of 5,40,000 applicants were allotted 10 units each via lottery, and the remaining 5,09,047 applicants were returned empty hands.
A total of 3,00,000 units were allotted to the staff of the company and 3,00,00 units allotted to mutual funds.
In total 2,169 applicants who applied for 47,720 units were disqualified.
