Reliance Life Insurance IPO allotment | Reliance Life Insurance IPO resilt | Merolagani IPO Result | ipo allotment of reliance life insurance

Reliance Life Insurance has got the oversubscription on its IPO issuance so there is no chance of share allotment for all applicants. According to sales manager Sanima Capital, 20,509 people will not get IPO as per the company's IPO. The company's IPO has received applications from 589,464 people. Of them, 1,955 applications have been rejected and 5,87,509 eligible applications have been received. Out of the total offered shares sixty lakh units, five percent of the total issued shares are set aside to the employees of the company and five percentages were set aside for the mutual fund and the remaining fifty-six lakh seventy thousand units shares were open for the general public.

 

Reliance Life IPO allotment

Published on 14:30

The company will update the result soon

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According to the Sanima Capital, the company has received six lakh six thousand three hundred and eighty-one application for the IPO for the two crore forty-one lakh thirty-one thousand eight hundred and seventy units of shares worth rupees two Arba and forty-one crore till 5 PM of Bhadra 8^th therefore it is already oversubscribed by 4.25 times. Now we are pretty much sure that the allotment will be done through the lottery of 10 units according to the Securities Issue and Allotment Guidelines 2074 of Securities Board of Nepal (SEBON).

 

About Reliance Life Insurance Companies

Reliance Life Insurance is one of the leading new life Insurance companies in Nepali Market. Reliance Life insurance was established on Mangshir 1 2074. The head office of this insurance is located at the Krishna Tower, New Baneshwor Kathmandu. Pravin Raman Parajuli is the recent Chief Executive Officer of this Insurance . The management team of this insurance is so experienced and qualified.

 

Board of Directors of Reliance Life Insurance

The Board of Directors their role in Reliance life Insurance are as follows

1.    Tara Chand Kedia                           Chairman

2.    Bharat Kumar Todi                         Director

3.    Jagadish Kumar Agrawal               Director

4.    Amit Kumar Begani                        Director

5.    Sundar Prashad Kadel                    Director