Reliance Life Insurance to issue IPO from Aug 20

KATHMANDU: Reliance Life Insurance is issuing initial public offerings (IPO) from August 20.

The company said 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.