Sanima Life Insurance Started Process of IPO to Public - 60 Lakh Units of Share

Sanima Life Insurance Started Process of IPO to Public - 60 Lakh Units of Share:

Sanima Life Insurance has started the process of issuing an initial public offering (IPO) to the public. The company has started the process of issuing 6 million units of shares worth Rs 600 million.

The company has rated the IPO it is about to issue. Care Rating Nepal has given a triple B minus rating to the company's IPO. The rating indicates that the company is moderately secure in fulfilling its financial obligations.

The paid-up capital of the company will reach Rs 2 billion after the issuance of IPO at the rate of Rs 100 per share.

Yet seven Life insurance companies have not issued IPOs to the public. Union, Citizen, Reliance, IME, Sanima, Sun Nepal, and Mahalaxmi Life Insurance have yet to issue IPOs. Recently, Jyoti Life Insurance Company has issued shares to the public.

Sanima Life Insurance will issue a primary share IPO worth Rs 600 million. An agreement has already been reached with Prabhu Capital to issue shares to the public.

Prabhu Capital will do all the work related to the issue of shares worth Rs 600 million to be issued by Sanima Life to the public.

After the IPO of the insurance company, which has a paid-up capital of Rs 1.40 billion, will reach Rs 2 billion as specified by the Insurance Committee.