Final count down for IPO of Reliance Life Insurance; prominent Banks and business houses promoted company to float total 56.7 lakh shares for general public

Reliance Life Insurance is issuing 6.3 Million units of ordinary shares to the general public from August 20, 2020 at NPR 100/- per share. The Company is issuing 30% of its issued capital i.e. 630 Million worth of shares post which the paid-up capital of the Company will be NPR 2.10 Billion. Sanima Capital Ltd. is the issue manager of the shares.

Out of 6.3 Million units of shares to be offered to masses, 315,000 shares have been set aside for the employees of the Company, 315,000 shares have been set aside for Mutual Funds approved by Securities Board of Nepal (SEBON) and the remaining 5.67 Million shares will be offered to the general public. The Company will be the first to issue Initial Public Offering (IPO) to the general public among the last lot of 10 new life insurance companies licensed by Beema Samiti. The Company has been launching innovative plans at competitive prices as demanded by the market with core focus on quality servicing and digitization which further ensures enhanced service delivery.

Reliance Life Insurance Ltd. which commenced its operations from 17^th November 2018 is promoted by Siddhartha Bank Ltd. and prominent business houses. The Company has been rendering professional services to the general public through its 100 point of sales. For additional information related to the share issue, the interested are requested to review the Announcement Notice of the Company published in a National Daily (Karobar Daily) on August 12, 2020 or visit the official web-site of the Company www.relifeinsurance.com.