Reliance Life IPO allotment
Published on 14:30
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Reliance life Insurance has stop the application of the IPO allotment on Monday (early closing of IPO application date) . Likewise, the applications were received of excessive number.
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|IPO Issue Units||5670000|
|Total IPO application Received (Share Units)||24131870|
|How Many times the application exceeds||4.25 times|
Of the total 6.3 million shares issued by the insurance company, likewise 5 percent or 315,000 shares have been reserved for collective investment funds and 5 percent for employees. The remaining 5.67 million units were open for sale to the public.
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The authorized capital of the insurance company is Rs 3 billion and the issued capital is Rs 2.10 billion similarly the insurance company, which has already maintained paid-up capital of Rs 1.47 billion from the founding shareholders, has issued an IPO worth Rs 630 million. Additionally, the IPO, the paid-up capital of the insurance company will reach Rs 2.10 billion.
About Reliance Life Insurance Limited
Reliance Life Insurance Limited started its operation from Mangshir 1, 2074. We are proud to provide risk coverage and financial stability to our valued policyholders today and in the future.
This company operates in the core philosophy of customer-centricity by offering a wide range of protection and saving plans to meet different life stage requirements of its customers. RLIL values reside in innovative and cost-competitive products with a commitment to quality and timely servicing and a hassle-free claim settlement experience to its customers.
This organization is the first and only life insurance company having 24 x 7 Contact Center for servicing our clients and customers, and creating insurance awareness.