Citizen Life Insurance Company IPO Allotment Concluded, How to check result ?

The IPO allotment for Citizen Life Insurance Company Limited has completed, The allotment has taken place at the premises of the issue manager, NIMB Ace Capital Limited, located in Kathmandu.

Out of the total 1,12,50,000 units of shares offered, 10% (11,25,000 units) were allocated to Nepalese citizens working abroad, while 5% (562,500 units) were reserved for the company's employees. Additionally, 5% of the total offered shares (562,500 units) were set aside for mutual funds. The remaining 90,00,000 units were made available to the general public.

The shares were priced at Rs. 244 per share, consisting of a face value of Rs. 100 and a premium price of Rs. 144, for the general public. For company employees, the shares were issued at the par value of Rs. 100.

Until the last day of this IPO, a total of 15,84,597 investors applied for 1,75,68,750 units. Among them, the applications of 1,71,439 investors were rejected. A total of 14,13,158 eligible investors participated in the allotment process.

It's evident that only 900,000 fortunate applicants will be granted ownership of the company.

Citizen Life Insurance Company Limited is a publicly traded life insurance company (LIC) that received its license from the Insurance Board in August 2017 and began operations in October 2017. The company's headquarters are located in Teku, Kathmandu. It was established with Nepalese capital by a group of promoters, including entities from the media industry (Kantipur Publications Pvt. Ltd.), Nepalese BFIs, merchant bankers, investment management firms, insurance companies, and high net-worth individuals.

You can view the IPO results  on the CDSC's website at iporesult.cdsc.com.np or at https://result.nimbacecapital.com/#/ipo-result