Nepal Breaking NewsNepal Stock ExchangeSanima Life Insurance has received approval from SEBON to 60 lakh...

Sanima Life Insurance has received approval from SEBON to issue 60 lakh shares in an initial public offering (IPO)

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Sanima Life Insurance Company Limited will launch an Initial Offering (IPO) in the amount of Rs 60 . The Securities Board (SEBON) 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 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% in the company 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.

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