June 15, 2020 | Investopaper
13 Insurance companies are in the process of issuing the Initial Public Offering (IPO) to the general public. The companies include 10 life insurance and 3 non-life insurance. 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. 7.18 Arba in the capital.
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The insurance companies have approved the agenda of IPO from their respective Annual General Meeting (AGM).
Nepal Reinsurance Company has already issued the largest IPO among the insurance companies. The issue amounts to Rs. 1.60 Arba through the sale of 1.60 crores unit shares. Nepal Re issued the public offering from Chaitra 4 to Chaitra 7, 2076.
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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.
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The table below shows the list of insurance companies that will issue the IPO in the near future.
Upcoming IPOs Of Insurance Company In Nepal
|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|
|S.N.||Non- Life Insurance||No. of shares ( In Lakhs )||IPO Issue Amount (Rs. In crores)|
|1||Ajod Insurance Company||30||30|
|2||Sanima General Insurance||30||30|
|3||General Insurance Company||30||30|
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