IME Life Insurance to issue IPO worth Rs 60 crore. Appoints Civil Capital as the issue manager

IME Life Insurance is all set to issue Initial Public Offering (IPO) for the general public. The company has planned to float IPO worth Rs 60 crore.

Civil Capital has been assigned as the issue manager for the IPO issue.

The insurance company will be issuing 60 lakh unit shares at a par value of Rs 100.

The General Manager of IME Life Insurance, Mr Dinesh Amatya and Acting CEO of Civil Capital Mr Suman Acharya had signed on the agreement.

The paid-up capital of IME Life Insurance is Rs 1.40 arba. After the issuance of IPO worth Rs 60 crore, the paid up capital of the insurance company will reach Rs 2 arba. Similarly, the capital structure of the company will stand at 70% promoters and 30% ordinary shareholders.