Sanima General Insurance to issue IPO from Asoj 21
By Rabindra Dhungel, 1 october 2020. Non-life insurance company General Insurance is going to issue ordinary shares to the public. Sanima General Insurance is going to sell 30 percent shares to the public to increase its paid-up capital to Rs 1 billion. The company is about to issue 3 million IPOs worth Rs 300 million at a face value of Rs 100. Out of the total shares to be issued by the company, 120,000 shares have been set aside for the company’s employees and 150,000 shares for mutual funds. The general public will be able to apply for the remaining 2.7 million shares.
Applications for the company’s IPO can be submitted till September 10. Investors will be able to apply for a minimum of 10 lots and a maximum of 1,000 lots. Lately, record breaking applications have started appearing in IPOs. As per the IPO distribution guideline of the Securities and Exchange Board, a minimum of 10 lots of shares has been made mandatory. In the IPO of Sanima General Insurance, 273,000 people will get a minimum of 10 IPOs. Due to which only 10 lots are applied for in IPO. IPO My shares and shares can be filled from Aswa Banks and Financial Institutions.