Sanima Life Insurance to issue IPO; Got triple B minus rating from Care Ratings Nepal

Kathmandu, April 12

Sanima Life Insurance Limited is preparing to issue IPO. The company has given a rating to Care Ratings Nepal Ltd. for IPO issuance.

Care Ratings Nepal has given Care NP BBB minus rating to the IPO to be issued by the company. This shows that the fundamentals of the company are moderate. Also, the company’s ability to bear responsibility shows an average risk. The company is preparing to issue 60 lakh units of IPO.

Yet, the company has not applied to the regulatory body, the Securities Board of Nepal. After completing the necessary process and submitting an application to the board for approval, the IPO will be issued. Currently, the company’s paid-up capital is Rs. 1 arba 40 crore. After the IPO issue, the capital will reached to Rs. 2 arba.