Prabhu Life Insurance IPO Result | 540,000 people allotted Shares

Prabhu life insurance ipo

Prabhu Life Insurance Company’s IPO has been allotted. The IPO was distributed through a round of voting at the office of sales manager Siddhartha Capital in Naxal Kathmandu at 11 am. Of which, 540,000 people have allotted shares at the rate of 10 Kittas. Check the your result below.

Prabhu Life Insurance IPO was sold to the public on December 14 – 17. As before, the number of applicants has skyrocketed on the company’s IPO. Prabhu Life Insurance IPO has received more than one million applications. Pre allotment has been completed on December 23, 2020.

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prabhu life insurance ipo result

About 1 million people have applied for Prabhu Life’s IPO and about 50 percent of the applicants will not get shares. According to Siddhartha Capital, the manager of share issue and sale, applications have been received for 27.7 million shares out of 1,044,000 applications till 4:30 pm on Thursday. This is 5.12 times more applications.

According to the SEBON rule, only 540,000 applicants will get minimum shares of 10 kitta by a lottery system. Only about 50% of the lucky applicants will get IPO shares. Now the company’s paid-up capital is Rs 1.40 billion, after IPO paid-up capital will reach Rs 2 billion.

The company had issued 6 million IPOs worth Rs 600 million. Of that, 5% is secured for employees and another 5% for investment funds. The remaining 5.4 million shares were brought out for public issuance.