A new insurance company’s going to issue the IPO soon. For the IPO lovers good news for you. Sanima General Insurance Company’s IPO is coming soon for the general investors. Sanima General Insurance has received permission from the Securities and Exchange Board of Nepal (SEBON) to issue an IPO. SEBON on Monday allowed the company to issue an IPO.
The company is going to issue ordinary shares (IPO) worth Rs 300 million (30 Crore) to the general public. The company will issue ordinary shares at a price of Rs 100 per share. A total IPO of 30 Lakh kittas ordinary shares will be issued. The company has appointed NIC Asia Capital Limited as the sales manager for the IPO. IPO of Sanima insurance company is opening from Ashoj 21 (October 7). The closing date of IPO is Ashoj 25 (October 11).
Care Rating Nepal has given ‘Care NP BB Plus‘ rating to the Sanima General Insurance IPO. The rating indicates that the company’s financial position is moderate. NIC Asia Capital will open IPO and do all the official work related to the shares of Sanima insurance company.
|IPO to issue||30 Lakh kitta|
|Per Unit Price||Rs 100|
|Total worth of IPO||Rs. 30 Crore|
|IPO Open date||Ashoj 21 (October 7)|
|IPO Closing date||Ashoj 25 (October 11)|
|Total IPO Shares||30,00,000 Kitta|
At present, the company’s paid up capital is Rs. 700 million. The company is issuing 300 million ordinary shares to the public. The company’s paid-up capital will reach Rs 1 billion after the IPO.
|COMPANY STRUCTURE||CAPITAL ( Rs.)|
|Paid up Capital Now||70,00,000|
|IPO to issue||30,00,000|
|Paid Up Capital after IPO||1,00,00,000|
Sanima General Insurance Limited is a public limited company operating under the Companies Act and the Insurance Act. The company was established with the objective of accessible, affordable, fast and fair non-life insurance services. The company has been doing insurance business since July 2018.
The company has claimed that Sanima General Insurance has contributed to the economic development inside and outside Nepal. The company includes leading industrialists, trading houses, bankers, and highly qualified professionals from Nepal, including non-resident Nepalis. The company is offering a wide range of non-life insurance products approved by the Beema Samiti.
Company offers Motor Insurance, Property and House Insurance, Marine Insurance, Cattle and crop Insurance, Travel Insurance, Accidental and Medical Insurance, Engineering Insurance and Miscellaneous Insurance.