KATHMANDU: Today is the last day for applying for initial public offerings (IPO) of Prabhu Life Insurance. The application for IPO  will remain closed after the banking hour today.

The company is putting down the shutters on the applications for IPO earlier than the original deadline since it alreday received a large number of applications. As many as 873,000 applicants have applied for IPO until Wednesday.

The company has issued a total of six million units of shares worth Rs 600 million. Of them, 300,000 units of shares have been allocated for staffers of the company, 300,000 units of shares for the mutual fund and the remaining 5.4 million units of shares have been allotted for general public, according to a press note issued by the company.

Siddhartha Capital Limited has been appointed as the issue manager. An applicant can apply for 10 to 5,000 units of shares.

Prabhu Life Insurance had issued IPO) from on December 14.