30 lakhs IPO shares of Sanima insurance company

30 lakhs IPO shares of Sanima insurance company

Sanima General insurance firm possesses approval from the Securities Board of Nepal (SEBON) to issue an IPO.

The company will issue 30 lakh shares worth Rs. 30 crores. The company's existing paid-up capital is Rs. 70 crores. Thus, after the IPO issue, Sanima General Insurance Company's paid-up capital are going to be Rs. 1 Arba.

NIC Asia Capital is appointed  as a issu manager of this Sanima general insurances because the issue manager for this IPO. However, the date of the IPO issue  announced i.e  Ashwin 21 recently it has been announced

Sanima General Insurance profit has increased. It has been increased by 53.41% to Rs. 5.56 crores within the fourth quarter of FY 2076/77 with in a year.

Sanima General insurance firm goes to float 30 lakh unit shares within the Initial Public Offering (IPO). the corporate will sell the IPO to the overall public from Ashwin 21, 2077. the difficulty will remain open for 4 days until Ashwin 25, 2077.

Securities Board Of Nepal (SEBON) provided the approval for the IPO issuance to the corporate on Ashwin 5, 2077. The non-life insurance had submitted application to SEBON on Ashad 14, Sanima General Insurance will now issue 3,000,000 shares within the IPO at the face value of Rs 100. Hence, the IPO is worth Rs 30 crores. After the difficulty of IPO, the overall public will possess 30 percent ownership within the company. Likewise, the promoters will hold 70 shares.

Out of the entire issue, the workers of the corporate will receive 1,20,000 shares while the mutual funds can apply for 1,50,000 shares. Therefore, the overall public will participate for the remaining 27,30,000 shares.

Interested Investors can apply for the minimum of 10 shares and maximum of 1,000 shares.

NIC Asia Capital Limited is that the issue manager for the IPO of Sanima General Insurance.

About Sanima General Insurance
Sanima General insurance firm may be a newly established non life assurance that commenced its business operation since July 2018 [Ashad 2075].

Sudyumna Prasad Upadhyaya is that the Chief Executive Office (CEO) of the insurance. Likewise, Khem Raj Lamichhane chairs the board of Sanima General Insurance..

Financial Condition Of Sanima General Insurance

At current, Sanima General Insurance has Rs 70 crores in paid-up capital. After the difficulty of the IPO, the paid-up capital of the insurance will increase to Rs 100 crores. Hence, it'll meet the minimum capital requirement for the non-life insurance in Nepal, as directed by Beema Samiti.

In the financial year 2076/77, Sanima General Insurance has collected Rs 35.27 crores in total premium. the corporate sold 42,383 insurance policies during this era . Likewise, the insurance earned a profit of Rs. 5.56 crores [based on the unaudited fourth quarterly report, FY 2076/77].Products/Services Offered By Sanima General Insurance
Sanima General Insurance provides various insurance products such as:

1. Motor Insurance

2. Property and House Insurance

3. Marine Insurance

4. Cattle and Crops Insurance

5. Travel Insurance

6. Accidental and Medical Insurance

7. Engineering Insurance

8. Miscellaneous Insurance