KATHMANDU: Reliance Life Insurance is issuing initial public offerings (IPO) from August 20.
Organizing a video conferencing on Thursday, the company informed that it is issuing 6.3 million units of shares worth Rs 630 million.
Of them, 5,670,000 units of shares have been allocated for the general public, 315,000 units of shares for the collective investment fund (CIF) and 315,000 units of shares have been set aside for the staffers of the company.
With Rs 2.1 billion as the paid-up capital, Reliance is selling its 30 percent of shares.
The IPO which will open on August 20 will close on August 24.
A customer can apply for minimum 10 units of shares to maximum 63,000 units of shares.
Reliance has assigned Sanima Capital with the responsibility of issue manager.
Speaking in the video conferencing today, Chief Executive Officer (CEO) Prabin Raman Parajuli said the company has taken a giant leap in a short span of time. It was established in 2074 BS.
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