Shares of Reliance Life Insurance (RLI) are being listed on the Nepal Stock Exchange (NEPSE) on Monday. According to Nepse, the company’s shares will be listed on Monday, September 7. The company’s shares will be traded in the secondary market this week.
Reliance Life Insurance’s IPO has already reached the shareholder’s account. The company has received RLI signal to trade in the secondary market. Similarly, the shares with RLI signal have come to the demat account. Reliance has appointed Sunrise Capital as its share registrar. Sunrise Capital will do all the work related to keeping the records of the shareholders, including keeping records, updating filings, and transferring names.
Reliance Life’s First Trading Price
For the first transaction of Reliance Life Insurance, the opening range seems to be from a minimum of Rs 107 to a maximum of Rs 322 per unit. According to the Nepse, after IPO the company gets an opening range of up to three times the book value for the first transaction. The book value of the company up to mid-July of the Fiscal Year 2076/77 is Rs. 107.59. The opening range of the company will be determined accordingly.
Reliance Life Trading in Nepse from tomorrow
Shares of Reliance Life Insurance Limited will be traded in the secondary market from September 8. Tomorrow, the first trading will take place in the special pre-opening session (10:30 am to 10:45 am) within the range specified by Nepse. Only then will the company’s securities be traded at regular trading hours (11 a.m. to 3 p.m.).
IPO of Reliance Life Insurance
The company had issued an IPO to the public on August 20. The company had issued 6.3 million shares worth a total of Rs 630 million. Out of that, 315,000 shares were allotted for collective investment funds and 315,000 shares for employees and the remaining 567,000 shares were issued to the public.
According to the rules of securities, the eligible applicant has to be distributed at the rate of minimum 10 lots through lucky draw. For the same reason, only 567,000 people have received shares of the company 10 kittas each during the IPO allotment. The company’s IPO had received applications from 589,464 people but 20,509 people did not get shares.
IPO Result of Reliance Life Insurance
To see the results of the IPO, choose Reliance Life Insurance in the list, enter a 16-digit demat number and Click the search button. After this, you will know if you got an IPO or not.