IPO allotment of Reliance Life Insurance concludes; lucky 5,67,000 investors get 10 units each and remaining 20,509 applicants return empty hands

Kathmandu. Reliance Life Insurance Limited's IPO has been allotted on Friday. The IPO, which is open for sale from September 19 to 20, has been distributed. A total of 587,509 eligible applicants participated in the distribution held at the office of Sales Manager Sanima Capital. Out of the eligible applicants, 567,000 applicants have received shares at the rate of 10 lots through the round system.

Check IPO Result of Reliance Life Insurance Limited

Reliance Life has sold a total of 6.3 million IPOs to the public. Out of the total, 315,000 units were set aside for collective investment funds and 315,000 units for employees. The remaining 567,000 units were opened for sale through public issue.

The company, which operates as a new life insurance company, was allowed to sell its IPO on July 31. Reliance Life, which currently has a paid-up capital of Rs 1.47 billion, is going to issue an IPO to maintain a paid-up capital of Rs 2 billion as specified by the Insurance Committee. After the IPO, the company's paid-up capital will reach Rs 2.10 billion.