Reliance Life Insurance and Sanima General Insurance set to issue IPO to general public; SEBON adds the issue to pipeline

Securities Exchange Board of Nepal (SEBON) has added the proposed IPO issue of Reliance Life Insurance Company Limited under preliminary review in the latest list of IPO issues in the pipeline published.

The company is proposing to come out with an IPO of 6,300,000 equity shares with a face value NPR 100 each, at par. The amount of the issue is Rs 63 Crore. 

Sanima Capital Limited has been appointed as the issue manager for the proposed IPO issuance.

ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 4, indicating below-average fundamentals, to the proposed initial public offering (IPO) of NPR 630 million of Reliance Life Insurance Limited (RLIL).

Likewise; Securities Exchange Board of Nepal (SEBON) has added the proposed IPO issue of Sanima General Insurance Company Limited under preliminary review in the latest list of IPO issues in the pipeline published.

The company is proposing to come out with an IPO of 3,000,000 equity shares with a face value NPR 100 each, at par. The amount of the issue is Rs 30 Crore. Following the issuance of the shares to the general public, the paid-up capital of the company will touch the Rs 1 Arba mark.

NIC Asia Capital Limited has been appointed as the issue manager for the proposed IPO issuance.