Manushi Laghubitta & Sanima Life Insurance are upcoming IPO in Nepal
Sanima Life Insurance Limited and Manushi Laghubitta Bittiya Sanstha Limited have received approval from the Securities Board of Nepal to issue their initial public offerings. IPO approval was granted by the regulator on Ashar 31, according to Rupesh KC from the Regulation Department.
Due to technical reasons, however, the approval notice has yet to be published on the regulator’s website.
An IPO application was submitted for 60,000 shares from Sanima Life Insurance. On Jestha 09, the application was submitted. The issue manager is Prabhu Capital. Board members have now approved the proposal.
Founded under the Companies Act, 2063 on 2064/08/13, Sanima Life Insurance Limited is a life insurance company. On 2074/08/22, the company began commercial operations as described in Sub-clause 3 of Clause 10 of Insurance Act, 2049 and the Insurance Regulations, 2049.
In compliance with these provisions, the company was granted its operating license on 2074/05/07. In the life insurance sector of Nepal, Sanima Life Insurance seeks to become a trusted name through the participation of non-resident Nepalese (NRN). Sanima Life Insurance Limited is primarily promoted by Sanima Bank.
There is a capital authorized of NRs 300 crore, and a capital issued and paid-up of NRs 140 crore. The IPO will raise 60 crores, and the paid-up capital will be 200 crores afterward, as per the requirement.
Promoter subscriptions have accounted for 70% of the issued capital and 30% will be earmarked for the public in accordance with regulations.
In the 3rd quarter of the fiscal year 2077/78, Sagama Life Insurance Limited generated a net profit of Rs 93.68 million.
A new IPO has also been approved for Manushi Laghubittta Bittiya Sanstha Limited. Earlier this year, SEBON received an application for the microfinance company’s IPO.
There will be 3,93,750 unit shares issued. The issue manager is Nepal SBI Merchant Bank.
Nepal Rastra Bank issued Manushi Microfinance a D class bank license on 25 Ashoj 2075 B.S. under the company act.
|S.N.||Symbol||Company||Units||Price||Opening Date||Closing Date||Status||View|
|1||SALICL||Sanima Life Insurance Company Limited||6,000,000.00||100.00||Coming Soon||Coming Soon||Coming Soon|
|2||MANU||Manushi Laghubitta Bittiya Sanstha Limited||393,750.00||100.00||Coming Soon||Coming Soon||Coming Soon|
|3||MAILUNG||Mailung Khola Jal Vidhyut Company Limited||736,286.00||100.00||Coming Soon||Coming Soon||Coming Soon|
|4||TPCL||Terhathum Power Company Limited||800,000.00||100.00||Coming Soon||Coming Soon||Coming Soon|
|5||MBKHCL||Madhya Bhotekoshi Jalavidyut Company Limited||9,000,000.00||100.00||Coming Soon||Coming Soon||Coming Soon|