Reliable Life Insurance Company Limited is planning to issue an IPO (Initial Public Offering). The company submitted a request to the Securities Board (SEBON) for IPO issuance. If SEBON grants the company’s request, it will issue 6,000,000 unit shares in the IPO. On Shrawan 12, 2078 BS, the company submitted a request to the Securities Board (SEBON) for IPO issuance.
IPO details of Reliable Life Insurance
Company: Reliable Life Insurance Company Limited
Issue Type: IPO
Issue Price: NPR 212 Per Share
Face Value: NPR 100 Per Share
Issue Date: Expected this year 2079
Issue Manager: CIVIL Capital
In Mangsir 18, 2064 BS, Reliable Life Insurance Company was established. It began offering life insurance on Bhadra 15, 2074 BS. The company’s paid-up capital as of Ashad’s end in 2078 BS is Rs 1.40 Arba. The company will offer the public 60 lakh shares or 30 percent of the company. After the IPO, the promoters will therefore own 70% of the business. Company chairman Udaya Nepali Shrestha is in charge.
The capital of Reliable Life Insurance Company is Rs. 1.40 Arba. The capital will increase to Rs 2 Arba after the IPO. A total of Rs 232.34 crores in premiums have been collected by the company up until the end of the fiscal year 2077/78. Global IME Bank Limited and Century Commercial Bank Limited invested in Company. The company has a reinsurance tie-up with one of the world’s leading reinsurance companies “Hannover Re Life Reinsurance Company”, Germany.
The Company (HO) is located at Gyaneshwor, Kathmandu.
We will update you once SEBON approval is granted. SEBON already asked for some additional documents to provide. After Document verification and audit it is likely that the company will get approval. The merger is a still question for many insurance companies. The insurance board issued guidelines to increase capital. This much for today, we will update you regarding any developments. Do not forget to like us on our social media pages like Instagram. Facebook.