IPO of Sun Nepal Life Insurance Company Added in SEBON Pipeline; Company to Issue IPO at Premium Price

The Initial Public Offering (IPO) of Sun Nepal Life Insurance Company Limited (SNLICL) has been added to SEBON’s IPO pipeline for approval.

The company is seeking to issue 9,600,000 unit shares to the general public at a premium price of Rs. 250.55 per share (Rs 100 face value + Rs 150.55 premium price). The IPO issue will raise a total of Rs. 2,40,52,80,000.

Likewise, Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance. The application was sent to SEBON on Falgun 17, 2079.

The share capital of the company as of the second quarter report of Fiscal Year 2079/80 is Rs. 2.24 Arba. The paid-up capital of the company will reach Rs. 3.2 Arba after IPO issuance. 

Sun Nepal Life Insurance Company Limited (SNLIC) is a life insurance company that obtained its license from Insurance Board on August 2, 2017. The company has been offering an extensive range of products as Money Back, Endowment, Whole Life, Term Assurance products, etc. through its diversified sales network. It has a branch network of 21 (including head office), 56 sub-branches, and 15,838 insurance agents as of Mid-Dec 2019.

Likewise, CRNL has assigned a grading of ‘CARE-NP IPO Grade 4’ to the proposed Initial Public Offer (IPO) of Sun Nepal Life Insurance Company Limited (SNLIC), indicating Below Average Fundamentals. SNLIC proposes to issue 60 lakh shares with a plan to raise Rs. 60 crores.