Prabhu Life Insurance Limited will be issuing 60,00,000 units worth Rs 60 crore as Initial Public Offering to the general public from (Mangsir 29- Poush 2, 2077). The early closing date of this issue is on Poush 2 and if the issue is not fully subscribed till Poush 2, then it can be extended up to Poush 13, 2077.
Out of the offered 60,00,000 units; 5% of the total offered shares to the general public i.e. 3,00,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 3,00,000 units have been set aside for the mutual funds. The remaining 54,00,000 units are for the general public.
Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.
Applications can be placed for a minimum of 10 units and a maximum of 5,000 units.
After the issuance of 60,00,000 units worth Rs 60 crore IPO shares the general public i.e 30% of total capital which will together raise its paid-up capital to Rs 2 arba and the promoter/public ratio will be 70:30.