Sanima Life Insurance Gears Up for IPO; Appoints Issue Manager

Jul 11, 2019 11:38 AM Merolagani

Sanima Life Insurance has geared up for initial public offering (IPO).  The company is set to issue 30 percent IPO worth Rs 600 million of its issued capital of Rs 2 billion.

In this regard, the company has appointed Prabhu Capital as issue manager. Both companies signed a memorandum of understanding (MoU) amid a program.

The agreement was signed by Shiva Ram Timalshina, General Manager of Sanima Life and Bhola Prasad Pathak, CEO of Prabhu Capital.

The company with Rs 1.40 billion in paid-up capital will meet the minimum paid-up capital of Rs 2 billion after the IPO issuance.

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Government Fails to Collect Targeted Revenue; Capital Expenditure Nears 70%

Jul 16, 2019 03:53 PM

The government has failed to collect targeted revenue in the current FY. As per the Office of Auditor General (OAG), the government collected 83.66 percent revenue till July 15, a day before the closing of the current FY.