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5,03,802 applicants applied for IPO of Reliance Insurance till now

 Reliance Life Insurance Limited has been issuing 63,00,000 units worth Rs 63 crore as Initial Public Offering to the general public from (Bhadra 4, 2077). 

Out of the offered 63,00,000 units; 5% of the total offered shares to the general public i.e. 3,15,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 3,15,000 units have been set aside for the mutual funds. The remaining 56,70,000 units are for the general public.

As per the issue manager Sanima Capital Limited, the issue has received approx 5,03,802 applications applying for a total of 2,04,14,190 units of shares worth Rs 2.04 Arba till 4.0 PM today (Bhadra 7). This issue is already oversubscribed by 3.6 times.

Applications can be placed for a minimum of 10 units and a maximum of 63,000 units.

After the issuance of 63,00,000 units worth Rs, 63 crore IPO shares the general public i.e 30% of total capital which will together raise its paid-up capital to Rs 2.10 arba and the promoter/public ratio will be 70:30.

ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 4, indicating below-average fundamentals, to the proposed initial public offering (IPO) of NPR 630 million of Reliance Life Insurance Limited (RLIL).


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