Kathmandu. The IPO allotment of Sun Nepal Life Insurance has been completed. The company has received labor approval from the relevant body of the Nepal government and will issue 960,000 shares at a nominal price of Rs. 100 In addition, a total of 239 rupees was issued for Nepalis who are employed abroad. 

The company had applied for IPO of 2.7 million and 905 Nepalese people who had gone abroad with labor permits for foreign employment. Out of that, 4 applications were canceled and 27 thousand 901 qualified applications were received. As more applications have been received than the company's IPO demand, the securities have been distributed according to the issuance and allotment guidelines. According to that, 9 thousand 74 people who applied for 10 to 40 shares among the eligible applicants got shares as per their demand. 1 lakh 90 thousand 460 shares have been distributed to them.

Similarly, 18,827 applicants who applied for 50 to 3,000 shares have also distributed 7,53,080 shares at the minimum rate of 40 shares. After that, the remaining 16 thousand 280 shares and the lucky 1 thousand 628 people who applied from 50 shares to 3 thousand got shares at the rate of 10 shares. According to that, the investors who applied for IPO got up to 50 shares.

The company got permission to issue 9.6 million ordinary shares worth Rs. In the first phase, 960,000 shares were issued for Nepalis who are employed abroad. The remaining 86.4 million shares will be issued to mutual funds, employees and general public.