Sanima General Insurance Company closing IPO issue from today; IPO issue already applied by more than 7.44 lakh investors

Sanima General Insurance Limited is closing the issue of 30,00,000 units worth Rs 30 crore as Initial Public Offering to the general public from today (Ashwin 25, 2077). This IPO issue was opened since Ashwin 21 and all interested investors can apply till today.

Sanima General Insurance: IPO Oversubscribed 5.94 times by 7,44,491 applicants

Out of the offered 30,00,000 units; 4% of the total offered shares to the general public i.e. 1,20,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 1,50,000 units have been set aside for the mutual funds. The remaining 27,30,000 units are for the general public.

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

Applications can be placed for a minimum of 10 units and a maximum of 1,000 units. 

After the issuance of 30,00,000 units worth Rs 30 crore IPO shares the general public i.e 30% of total capital which will together raise its paid-up capital to Rs 1 arba and the promoter/public ratio will be 70:30. 

Sanima General Insurance's profit has increased by 53.41% to Rs. 5.56 crores in the fourth quarter of FY 2076/77. 

CRNL has assigned the ‘CARE-NP BB+  (Is)’ rating to Sanima  General  Insurance  Limited  (SGIC). Issuers with this rating are considered to offer a moderate risk of default regarding timely servicing of financial obligations, in Nepal.

Click here for IPO Offer Letter: