Kathmandu. Life insurance company Sun Nepal Life Insurance Co. has received Care NP Triple B rating for Initial Public Offering(IPO) issue. Sun Nepal has received such a rating as a company issuing shares based on the risk classification of the company by the rating agency Care RatingNepal.
According to CARE Ratings, such ratings indicate a moderate level of risk in fulfilling financial obligations on time. The authorized capital of Sun Nepal is Rs. 2 billion. The company is preparing to issue ordinary shares worth Rs 600 million in near future. Keyal Group is the major promoter behind the company, which currently has a paid-up capital of Rs 1.40 billion.