The company completed the allotment on Saun 6 for 2.24 lakh units offered via auction.
Sun Nepal Life Insurance Company Limited has concluded the allotment of unsold rights shares that were placed for auction from Asar 23 to Asar 30. The allotment was finalized on Saun 6, Tuesday.
The company had offered a total of 2,24,728 shares through the auction. Of these, 80,222 units belonged to the promoter group and were not under a lock-in period. Similarly, 1,40,457 units were public shares without a lock-in period, while 4,049 units were public shares under a lock-in period.
According to the issue manager, Nepal SBI Merchant Banking Limited, the shares were auctioned through a sealed bidding process. The cut-off price was set at NPR 151 per unit for promoter shares, NPR 461 per unit for public shares without a lock-in period, and NPR 401 per unit for public shares with a lock-in period. Applicants who submitted bids at or above the respective cut-off prices received shares on a proportional basis, based on their relative bidding weight.
Applicants who did not receive allotment will have their refund amounts returned through Connect IPS. The refund process will be completed between Saun 8 and Saun 13.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
