Kathmandu: The application for IPO of Sanima Life Insurance Company will be open from 4 August 2021. The company is going to issue and issue 6 million IPOs worth at the face value of Rs. 100.
Out of the total IPO, the company has reserved 300,000 unit each for employees and mutual investment funds. And the remaining 5.4 million IPO have been released for the public. In the IPO, applications can be made for a minimum of 10 units to a maximum of 30,000 units.
Applicants will be able to apply for this IPO as soon as possible till the banking hours on 8 August,2021. If the share is not fully subscribed sale within the first deadline, the applicants can apply within the banking hours on 8 August, the company said.
According to the rating agency Care Rating Nepal, the IPO has received ‘CareNP IR Triple B Minus’ indicating moderate type of security.
Banks and Financial Institutions with all ASBA members approved by the Nepal Securities Board and from branch offices of the BFIs application for IPO can be submitted. Also, there is an arrangement to apply for IPO from meroshare apps.
Prabhu Capital is the IPO issue and sales manager. Currently, the company’s paid-up capital is Rs. 1.40 billion. After the primary share issue, the company’s paid-up capital will reach Rs. 2 billion.