Sanima General Insurance: IPO oversubscribed 4.56 times on the second day

Sanima General Insurance Limited has issued 30,00,000 units worth Rs 30 crore as Initial Public Offering to the general public from Ashwin 21, 2077. The early closing date of this issue is on Ashwin 25 and if the issue is not fully subscribed till Ashwin 25, then it can be extended up to Kartik 6, 2077.

Out of the offered 30,00,000 units; 4% of the total offered shares have been set aside for the employees of the company and 5% 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. According to the issue manager, the IPO has received 5,61,873 applications for a total of 1,24,70,900 units till 5 pm on the second day today, i,e. Ashwin 22. Thus, the issue is oversubscribed by 4.56 times.

After the issuance of 30,00,000 units worth Rs. 30 crore IPO shares, the paid-up capital of the company will be Rs. 1 Arba, and the promoter/public ratio will be 70:30.