The Life Insurance Corporation (Nepal), a Nepali joint venture with the Life Insurance Corporation of India has allotted 470,000 shares to about 25,000 of the roughly 60,000 subscribers who applied for them. LIC Nepal has reserved 5,000 shares for its employees. Fifty-five percent of the stock of LIC Nepal, which has authorised capital totalling Rs 250 million, belongs to LIC India, 25 percent to the Bishal Group of Nepal, and 20 percent to the general public, including employees.