Sanima Life Insurance Company Limited will be issuing 60,00,000 units worth Rs 60 crore as Initial Public Offering to the general public from (Shrawan 20-24, 2078). The early closing date of this issue is on Shrawan 24 and if the issue is not fully subscribed till Shrawan 24, then it can be extended up to Bhadra 2, 2078.
Out of the offered 60,00,000 units; 5% of the total offered shares to the general public i.e. 3,00,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e.3,00,000 units have been set aside for the mutual funds. The remaining 54,00,000 units are for the general public.
Prabhu 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 30,000 units.
After the issuance of 60,00,000 units worth Rs 60 crore IPO shares the general public i.e 30% of total capital which will together raise its paid-up capital to Rs 2.15 Arba and the promoter/public ratio will be 70:30.
Care Ratings Nepal (CRNL) has assigned ‘CARE-NP BBB- (Is)’ rating to Sanima Life Insurance Limited (SLIL). Issuers with this rating are considered to offer moderate degree of safety regarding timely servicing of financial obligations, in Nepal. Such issuers carry moderate credit risk.
Sanima Life Insurance Company Limited was incorporated under the Companies Act, 2063 on 2064/08/13. Beema Samiti assigned the operating license to the company 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.
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