Kathmandu. Sanima Life Insurance has distributed its initial public offering (IPO) to the public. At the rate of 10 lots, only 540,000 people have received shares through round robin.

More than 2.419 million 848 people had applied for the IPO in Sanima. 23 lakh 8 thousand 122 applicants were eligible. One lakh 11 thousand 726 applications have been rejected. Out of the eligible applicants, shares have been distributed to 540,000 applicants at the rate of 10 lots.

 Prabhu Capital, the sales manager, said that applications have been received for 369.43 million shares worth Rs 3.69 billion. According to the company, the number of applications was 6.84 times more than the demand.