Himalayan Reinsurance Company Completes IPO Distribution

The Initial Public Offering (IPO) of Himalayan Reinsurance was distributed to the public on Wednesday, organized by Sales Manager NMB Capital. The company had opened applications for a total of 24.9 million shares, and the response exceeded expectations.

A total of 15,64,564 valid applicants submitted applications for 2,99,97,720 units, resulting in an oversubscription of more than 1.2 times. Despite the overwhelming demand, the distribution process was meticulous, ensuring fairness and transparency.

Applicants who requested up to 30 shares received the exact amount they applied for. Those who applied for 10, 20, or 30 shares got their requested quantities without any variation. However, for those requesting 40 shares or more, 29,021 lucky applicants were allotted 40 shares in total through a lottery system.

To add an element of excitement to the allotment process, applicants who applied for 40 units to 34,050 units were entered into a lottery for an additional 10 units. Out of the 96,538 eligible applicants for the lottery, only 29,021 were fortunate enough to receive the extra allocation.