Kathmandu: Today is the last day to apply for the IPO of Sanima Life Insurance Company. As of Friday evening, more than 1.918 million applications had been received for the IPO issued by the company.
On the third day of the IPO, the number of subscriptions has crossed 5.55 times. Prabhu Capital is the Securities Issuance and Sales Manager for the IPO.
The company is going to issue and sell 6 million IPOs worth Rs. 600 million at a face value of Rs. 100. Out of which, the company has reserved 300,000 units or 5 percent for employees and 300,000 units or 5 percent for collective investment funds. And the remaining 5.4 million shares have been released to the public.
In the IPO, applications can be made for a minimum of 10 lots and for a maximum of 30,000 lots.
The company has already received a credit rating for the primary share issue. According to the rating given by Care Rating Nepal, it has received ‘CareNP IR Triple B Minus’ indicating moderate security.
Currently, the company’s paid-up capital is Rs.1.40 billion. The company’s paid-up capital will reach Rs.2 billion after the issuance of primary shares.