Sun Nepal Life Insurance Company’s IPO is Added in SEBON Pipeline
The Sun Nepal Life Insurance Company Ltd (SNLICL) Initial Public Offering (IPO) has put to SEBON’s IPO pipeline for clearance.
9,600,000 unit shares at a premium price of Rs. 250.55 per share (Rs. 100 face value + Rs. 150.55 premium price) are offer to the general public by the corporation. The entire amount raised by the IPO offering is Rs. 2,405,280,000.
Similarly, Nepal SBI Merchant Banking Ltd has choose to serve as the IPO’s issuing manager. On Falgun 17, 2079, the application was forwarde to SEBON.
On August 2, 2017, Sun Nepal Life Insurance Company Ltd (SNLIC), a life insurance provider, received authorization from the Insurance Board. With its varied sales network, the firm has been providing a wide range of products such as Money Back, Endowment, Whole Life, Term Assurance products, etc. As of mid-December 2019, it has a branch network of 21 (including the main office), 56 sub-branches, and 15,838 insurance agents.
The planned Initial Public Offer (IPO) of Sun Nepal Life Insurance Company Limited (SNLIC) has been graded by CRNL as “CARE-NP IPO Grade 4,” which denotes Below Average Fundamentals. In order to generate Rs. 60 crores, SNLIC wants to offer 60 lakh shares.
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