SEBON Approves IPO of Prabhu Life Insurance

Nov 27, 2020 03:32 PM Merolagani

Securities Board of Nepal (SEBON) has approved initial public offering (IPO) of Prabhu Life Insurance (PLIL) on November 26.

The company obtained approval to issue 6 million units of shares worth Rs 600 million. The existing paid-up capital of the company will increase to Rs 2 billion after the IPO.

ICRA Nepal has assigned Grade 4 rating to the issue indicating below average fundamentals.

The company has appointed Siddhartha Capital as its issue manager.

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