Sanima General Insurance to issue IPO; NIC Asia Capital appointed as issue manager

Mon, Sep 21, 2020 4:47 PM on IPO/FPO News, Latest,

Sanima General Insurance Company has got approval from the Securities Board of Nepal (SEBON) to issue an IPO.

The company will issue 30 lakh shares worth Rs. 30 crores. The company's existing paid-up capital is Rs. 70 crores. Thus, after the IPO issue, Sanima General Insurance Company's paid-up capital will be Rs. 1 Arba.

NIC Asia Capital is appointed as the issue manager for this IPO. However, the date of the IPO issue isn't announced yet.

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