IPO of Reliance Life Insurance has been allotted today. Reliance Life had issued an IPO from Bhadra 4 to 8. The company has done allotment at Sanima Capital’s office on Friday.
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According to sales manager Sanima Capital, 20509 people will not get IPO. The company’s IPO had received applications from 589,464 people. Of them, 1955 applications have been rejected and 5,87,509 eligible applications have been received.
The company had issued 6.3 million shares worth a total of Rs 630 million. Out of that, 315,000 shares were allotted for Investment funds and 315,000 shares for employees and the remaining 567,000 shares were issued to the public.
5 lakh 67 thousand people have received shares of the company at the rate of 10 lots while the remaining 20 thousand 509 people were left empty-handed. Insurance’s IPO has received 4.04 times more applications.