Kathmandu: Reliable Nepal Life Insurance Company has re-approached to the Securities Board of Nepal (SEBON) for approval to issue IPOs at a premium value. The company has proposed to issue IPOs at Rs.212 including premium of Rs.112.
The company has applied to SEBON to issue IPOs of 2 billion 47 crore 68 lakh rupees. Out of the total IPOs, 600,000 shares are reserved for employees at Rs.100. The 14 million shares will be offered to the public at the rate of Rs.212. The proceeds from the premium will be transferred to the reserve fund.
Civil Capital Limited has been appointed as the share issue manager for Reliable Nepal.
After the IPOs issue, the company’s paid-up capital will reach Rs.4 billion rupees. Currently, the company’s paid-up capital is 2.8 billion. When the company issues an IPO at a premium, it will collect a premium of 1 billion 276 million rupees and the amount will be deposited in the reserve fund of the company.
If SEBON gives nod for IPOs at premium, Reliable Nepal Life will be the first insurance company to issue IPOs at premium value.