In Nepal Stock Exchange, A large number of ordinary shares (IPO) are being issued. Lately, one after another IPOs is being issued continuously. Meanwhile, insurance companies are issuing IPOs soon. Here you will know the list of 11 upcoming IPO of Insurance companies in Nepal. A total of 62.5 million ordinary shares are ready to issue for the public.
About half a dozen companies have so far issued IPOs since the lockdown. Some of them have already been distributed and some are in the process of distribution. Recently, Samaj Microfinance, Reliance Insurance and Liberty Hydropower have issued IPOs.
Meanwhile, 11 new insurance companies are going to issue IPOs. Nine life insurance companies and two non-life insurance companies are preparing to issue a total of 62.5 million ordinary shares (IPO). As per the directive of the Insurance Committee, life insurance companies have to increase their paid-up capital to Rs 2 billion and non-life insurance companies to Rs 1 billion.
That’s why insurance companies are preparing to issue IPOs in large numbers. Do You want to know the list of upcoming IPO and the name of the insurance companies? See the list below for the detailed information of upcoming IPO in Nepal.
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List of Insurance Companies issuing IPOs:
Nine life insurance companies and two non-life insurance companies are preparing to issue IPO to the public. A total of 62.5 million ordinary shares (IPO) will be sold at the price of 100. Check out which company is issuing the IPO.
1. Jyoti Life Insurance Company Limited:
Jyoti Life Insurance Company Limited is about to issue IPO soon. The company has not yet submitted an application to Sebon. Jyoti Life Insurance Company is going to issue 6.6 million ordinary shares (IPO) to the public.
2. General Insurance Company Limited:
General Insurance Company Limited has submitted an application to Sebon on Friday, June 19 to issue and sell 3 million ordinary shares (IPO) at a face value of Rs 100 per share, equivalent to Rs 300 million. The issue and sale manager of the company has been appointed by NIBL S Capital Limited.
3. Sanima General Insurance Company Limited:
Sanima General Insurance Company Limited has submitted an application to Sebon on Sunday, July 29, to open the issuance and sale of 3 million ordinary shares (IPO) worth Rs 300 million. NIC Asia Capital Limited has been appointed as the issuer and sales manager of the company.
4. Citizens Life Insurance Company Limited:
Citizens Life Insurance Company Limited is about to open the issue of 7.5 million ordinary shares (IPO). The company has not yet submitted its application to Sebon.
5. Union Life Insurance Company Limited:
Union Life Insurance Company Limited is about to open the issue and sale of 6.45 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
6. IME Life Insurance Company Limited:
IME Life Insurance Company Limited is about to issue and sell 6 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
7. Mahalakshmi Insurance Company Limited:
Mahalakshmi Insurance Company Limited is about to issue and sell 6 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
8. Prabhu Life Insurance Company Limited:
Prabhu Life Insurance Company Limited is about to issue and sell 6 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
9. Reliable Nepal Life Insurance Company Limited:
Reliable Nepal Life Insurance Company Limited is about to issue and sell 6 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
10. Sanima Life Insurance Company Limited:
Sanima Life Insurance Company Limited is about to issue and sell 6 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
11. Sun Nepal Life Insurance Company Limited:
Sun Nepal Life Insurance Company Limited is about to open the issue and sale of 6 million ordinary shares (IPO). The company has not yet submitted an application to Sebon.
Upcoming IPO in Nepal, 11 Insurance Companies
| Life Insurance | No. of shares |
|---|---|
| Citizen Life Insurance | 75 Lakh |
| Jyoti Life Insurance | 66 Lakh |
| Union Life Insurance | 64.5 Lakh |
| General Insurance Company | 30 Lakh |
| Sun Nepal Life Insurance | 60 Lakh |
| IME Life Insurance | 60 Lakh |
| Sanima Life Insurance | 60 Lakh |
| Mahalaxmi Life Insurance | 60 Lakh |
| Reliable Life Insurance | 60 Lakh |
| Prabhu Life Insurance | 60 Lakh |
| Sanima General Insurance | 30 Lakh |
| General Insurance Company | 30 Lakh |
