Mahalaxmi Life Insurance convenes its SGM; to float IPO worth Rs 90 crore

Mahalaxmi Life Insurance has convened its SGM under the leadership of its chairman Mr. Manoranjan Raman Sharma on Baisakh 25, 2079.

The SGM has endorsed the board’s proposal to scale up the paid-up capital of the company to Rs 5 arba and issued capital to Rs 3 arba following the instruction from the Beema Samiti. More importantly, the life insurance company has also endorsed to float IPO worth Rs 90 crore to the general public.

The 58^th board meeting of the company has also formed a merger committee under the leadership of its director Mr. Suresh Sapkota, director Mr. Umesh Lal Shrestha and CEO Mr. Ramesh Kumar Bhattarai to carry forward the merger/acquisition process with other suitable organizations, as per the media statement.