01 Mar 2021, 12:43 PM (GMT)

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Reliance Life Insurance will issue initial shares to the general public

Kathmandu : Reliance Life Insurance Limited will be issuing 63,00,000 units worth Rs 63 crore as Initial Public Offering to the general public from (Bhadra 4, 2077).

The paid up capital of the company will remain at Rs 2.10 billion after the company issues 30 percent of the total issued capital or Rs 630 million worth of shares. Sanima Capital is the manger of the issue and sale of the shares.

Out of the 63,00,000 shares to be issued to the public, 3,15,000 shares will be issued to the employees working in the company, 315,000 shares to the collective investment fund approved by the Nepal Securities Board and the remaining 56,70,000 shares will be expelled to the public.

Of the 10 new life insurance companies recently licensed by the Insurance Committee, Reliance Life will be the first to issue shares to the public.

The company is working to keep the quality of its services high by bringing new and excellent insurance plans at competitive insurance rates as per the demand of the market.

At the same time, it has to further enhance the quality of its services by embracing digitization.

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