14 Insurance Company to float 8.78 Arba worth of IPO

INVESTOPAPER

14 Insurance companies are in the process of issuing the Initial Public Offering (IPO) to the general public. The companies include 10 life insurance, 3 non-life insurance, and 1 re-insurance company. These companies in total will float 8.785 crores units share in the IPO. Through the issue of shares in IPO, the insurance company will try to raise a total of Rs. 8.785 Arba in the capital.

The insurance companies have approved the agenda of IPO from their respective Annual General Meeting (AGM).

Nepal Reinsurance Company will issue the largest IPO among insurance companies. The issue amounts to Rs. 1.60 Arba through the sale of 1.60 crores unit shares. The company has already applied to Sebon on Bhadra 22,2076 for the IPO issuance.

Likewise, Life Insurance will issue IPO worth Rs. 6.285 Arba in total while non-life insurance will float Rs. 90 crores worth of IPO.

In Life Insurance, Jyoti Life will be the biggest issue with Rs. 75 crores IPO. Similarly, 6 life insurance will sell Rs. 60 crores worth of share.

In the case of non-life insurance, all 3 insurance will issue Rs. 30 crores each in the IPO.

In order to meet the capital requirements set by Beema Samiti, new insurance companies are trying to raise the capital through the issue of IPO shares. Life Insurance companies need to reach the capital of Rs. 2 Arba while non-life insurance company should have a minimum capital of Rs. 1 Arba,

The table below shows the list of insurance companies that will issue the IPO in the near future.

Upcoming IPOs of 14 Insurance Company

S.N. Re-Insurance  No. of shares ( In Lakhs ) IPO Issue Amount (Rs. In crores)
1 Nepal Re-Insurance Company 160 160
S.N. Life Insurance No. of shares ( In Lakhs ) IPO Issue Amount (Rs. In crores)
1 Citizen Life Insurance 75 75
2 Jyoti Life Insurance 66 66
3 Union Life Insurance 64.5 64.5
4 Reliance Life Insurance 63 63
5 Sun Nepal Life Insurance 60 60
6 IME Life Insurance 60 60
7 Sanima Life Insurance 60 60
8 Mahalaxmi Life Insurance 60 60
9 Reliable Life Insurance 60 60
10 Prabhu Life Insurance 60 60
TOTAL 628.5 628.5
S.N. Non- Life Insurance No. of shares ( In Lakhs ) IPO Issue Amount (Rs. In crores)
1 Ajod Insurance 30 30
2 Sanima General Insurance 30 30
3 General Insurance 30 30
TOTAL 90 90
GRAND TOTAL 878.5 878.5

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