In a much-anticipated event, Reliable Nepal Life Insurance is all set to distribute its Initial Public Offering (IPO) on Wednesday, Shravan 31st. According to the sales manager of Civil Capital, the distribution schedule has been finalized for 5:30 PM at the company’s own office in CTC Mall Sundhara, Kathmandu.
The IPO, however, has attracted significant interest, resulting in an oversubscription of 1.82 times the initial demand. This overwhelming response means that Reliable Nepal Life Insurance will be utilizing a round-based system for IPO distribution. Out of a staggering 14,77,877 applications received, only 9,60,000 individuals will be fortunate enough to receive shares. Unfortunately, the remaining 5,17,877 applicants will be left empty-handed.
Reliable Nepal Life Insurance IPO Details
|Distribution Date||Wednesday, Shravan 31st|
|Distribution Time||5:30 PM|
|Offer Price per Share||NPR 257|
|Premium per Share||NPR 157|
The journey leading up to this IPO has been eventful. From Shravan 23 to 26, the company offered 9,60,000 shares to the general public at a rate of NPR 257 per share, including a premium of NPR 157 above the face value of NPR 100.
Reliable Nepal Life Insurance Company was officially registered on Mangsir 18, 2064 BS, and its life insurance operations commenced on Bhadra 15, 2074 BS. As of the end of Chaitra 2079 BS, the company boasts a paid-up capital of NPR 2.80 Arba. With the impending IPO, which is expected to be fully subscribed, the paid-up capital will surge to NPR 4 Arba.
|Current Paid-Up Capital||2,800,000,000|
|Capital after IPO Issuance||4,000,000,000|
Leading the helm of Reliable Nepal Life Insurance is Chairman Udaya Nepali Shrestha. The company’s capital structure includes an authorized capital of NPR 5,500,000,000, an issued capital of NPR 4,000,000,000, and a current paid-up capital of NPR 2,800,000,000. Post the successful issuance of the IPO, the company’s capital structure will be enhanced to NPR 4,000,000,000.
This significant development underscores the market’s confidence in Reliable Nepal Life Insurance’s potential for growth and success in the insurance sector.
Uses of Funds
|S. N||Particulars||Amount (NPR)|
|4||Initial Public Offerings||32,29,00,000|
Way TO Check IPO Result
Method 1: MeroShare Website
- Open your web browser and go to the MeroShare IPO Result website: https://iporesult.cdsc.com.np/
- On the website’s homepage, you’ll find an option to select the IPO result. Look for “Reliable Nepal Life Insurance” in the list of available IPOs.
- Click on “Reliable Nepal Life Insurance” to access the IPO result page.
- Enter your 16-digit BOID (Beneficiary Owner Identification) number in the provided field. This is the number you received from your brokerage or the CDS and Clearing Limited.
- Click on the “View Result” button.
- The result for your IPO application will be displayed on the screen, showing whether you have been allotted shares or not.
Method 2: Nepse Bajar PMS
- Open your web browser and go to the Nepse Bajar PMS website: http://nepsebajar.com.np/
- Look for the “IPO Result” section on the homepage.
- Click on the “IPO Result” section and find “Reliable Nepal Life Insurance” from the list of IPOs.
- Click on the link for “Reliable Nepal Life Insurance” to access the IPO result page.
- Enter your BOID number and submit.
- The result of your IPO application will be displayed, indicating whether you have been allotted shares or not.
Method 3: Share Hub App
- If you have the Share Hub app installed on your device, open the app.
- Navigate to the section related to IPO results or allotment status.
- Find “Reliable Nepal Life Insurance” from the list of IPOs.
- Enter your BOID number in the designated field.
- Tap on the “Check Result” or similar button.
- The app will display the result of your IPO application, showing whether you have received shares or not.