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Sanima Life Insurance Company IPO

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A 60 lakh shares IPO is being offered by Sanima Life Insurance Company from Shrawan 20 to the general public.

An Initial Public Offering of 60,00,000 units worth Rs 60 crore will be made by Tanzia Life Insurance Company Limited between (Shrawan 20-24, 2078). In the event that this issue becomes unsubscribed before Shrawan 24, then it can be extended until Bhadra 2, 2078.

In the offering of 60,00,000 units, 5% of such shares were set aside for company employees, which amounts to 3,00,000 units, while 5% of the offered shares were set aside for mutual funds, which amounted to three,00,000 units. Of the remaining 54,00,000 units, 54,00,000 are for civilians.

The issue manager for this IPO has been named Prabhu Capital Limited.

Minimum and maximum application quantities are 10 and 30,000. 

The public will receive 60,00,000 units worth Rs 60 crore worth of IPO shares, which represents 30% of the total issuance shares. Consequently, the promoters will receive 70% of the float and the general public 30%. 

The rating of Sanima Life Insurance Limited (SLIL) by Care Ratings Nepal (CRNL) has been rated as ‘CARE-NP BBB- (Is). These issuers are considered to be moderately safe in Nepal as far as timely servicing of financial obligations is concerned. Moderate credit risk is associated with such issuers.

Founded under the Companies Act, 2063, Sanima Life Insurance Company Limited was incorporated on 2064/08/13. According to section 3 of Clause 10 of the Insurance Act, 2049 and sub-rule 1 of Rule 8 of the Insurance Regulations, 2049, the company was issued an operating license on 2074/05/07, and it commenced business on 2074/08/22.

Non-Resident Nepalese (NRN) are the promoters of Sanima Life Insurance, which is a name to be trusted in the Nepalese life insurance industry. NRN’s investment is in Finance, Banking, Hydropower, and Tourism in Nepal. A major promoter of the company is the Sanima Bank.

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