Sanima Life Insurance Company Limited will launch an Initial Public Offering (IPO) in the amount of Rs 60 crores. The Securities Board (SEBON) approved the IPO issuance on Ashad 31, 2078 BS. On Jestha 9, 2078 BS, the company submitted an application to SEBON.
Sanima Life Insurance will now issue 6,000,000 unit shares in the IPO, subject to SEBON approval. The public issue has a face value of Rs 100 and a total value of Rs 60 crores.
Prabhu Capital Limited is the IPO’s issue and sales manager.
Sanima Life Insurance Company
Sanima Life Insurance Company was established in 2064 BS at Mangsir 13, Mangsir. On Bhadra 7, 2074 BS, the company was granted an operating license by Beema Samiti. It began offering life insurance on Mangsir 22, 2074 BS.
The authorized capital of the company is Rs 3 Arba. The paid-up capital as of Ashad end, 2078 BS is Rs 1.40 Arba. The company will sell a 30% stake in the company for Rs 60 crores to the general public. As a result, following the IPO, the paid-up capital will rise to Rs 2 Arba, meeting Nepal’s minimum capital requirement for life insurance companies. Following the public offering, the promoters will own 70% of the company.