Reliance Life and Sanima General Insurance seek SEBON approval for IPO issuance

Jul 05, 2020 12:49 PM Merolagani

Reliance Life (RLIL) and Sanima General Insurance have sought approval from Securities Board of Nepal (SEBON) to issue initial public offering.

Reliance Life is planning to issue 30 percent primary shares of its issued capital worth Rs 630 million.  It has appointed Sanima Capital as issue manager.

Presently, the company has a paid-up capital of Rs 1.47 billion which will reach Rs 2.10 billion after the IPO issuance. ICRA Nepal has assigned grade 4 rating to the IPO indicating below average fundamentals.

Similarly, Sanima General Insurance is set to issue 30 percent IPO of its issued capital. For this, the company has appointed NIC Asia Capital as its issue manager.

Currently, the company has a paid-up capital of Rs 700 million that will reach Rs 1 billion after the issuance.


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Nepal Reports 259 New Cases of COVID-19; Death tolls 58

Aug 04, 2020 04:38 PM

Nepal has reported 259  new cases of COVID-19 on August 4.  With this, the number of COVID-19 cases has totaled 20, in the country, of which, 5,925 are active cases.