Sun Nepal Life Insurance to allot IPO on Friday

Aug 29, 2023 11:21 AM Merolagani

Sun Nepal Life Insurance is set to allot its recently issued initial public offering (IPO) on Friday, Bahdra 15 at 8 AM in the premises of issue manager.

The company issued 7,680,000 units ordinary shares at premium rate of Rs 239 on August 17-21.

As per the issue manager, the issue has been oversubscribed by 2.32 times. As the IPO is oversubscribed, the allotment will take place as per Securities Issuance and Allotment Guideline under which at least 10 units of shares will be allotted. Accordingly, only 768,000 applicants will be provided 10 units of shares.


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