Sanima Life Insurance Calls AGM With Agenda to Discuss IPO Issuance

Sanima Life Insurance Company Limited has called its 3rd AGM on 23rd Jestha, 2078. The meeting will be held in the company's central office in Kamaladi, Kathmandu, starting at 11 am that day. The AGM will be streamed virtually for investors.

Among other agendas, there is a special agenda to discuss the issuance of IPO. Sanima Life Insurance Limited has posted a net profit of Rs 93.68 million during the 3rd quarter of the fiscal year 2077/78.

Sanima Life Insurance Limited was incorporated under the Companies Act, 2063 on 2064/08/13. Beema Samiti awarded the operating license on 2074/05/07 as per Sub-clause 3 of Clause 10 of Insurance Act, 2049 and Sub-rule 1 of Rule 8 of Insurance Regulations, 2049 to conduct the business of Life Insurance and the company started its commercial operations on 2074/08/22. Promoted by Non-Residents Nepalese (NRN), who have an investment in Finance, Banking, Hydropower, and Tourism, etc in Nepal, Sanima Life Insurance aims to be a trusted name in the Life Insurance Sector of Nepal. Sanima Bank is the major promoter of Sanima Life Insurance Limited.

The authorized capital of the company is NRs 300 crore and the Issued and Paid-up Capital is NRs 140 crore. As per the regulatory provision, Sanima Life will issue an IPO of NPR 60 crore, after which paid-up capital will be 200 crores.

70% of issued capital has been subscribed by the promoters and 30% of the issued capital will be allotted to the public through IPO as per regulation in this regard.

AGM notice