Nepal Securities and Exchange Board (SEBON) is going to issue ordinary shares (IPO) and distribute them today.
Following the approval of the Nepal Securities and Exchange Board, the company is now distributing 3 million IPOs to the public. The company will distribute 5% shares to employees and 5% shares to mutual funds while all the remaining shares will be distributed to the public.
Distribution share number and share amount of IPO of General Insurance Company
IPO of General Insurance Company, Check detail
|Company||IPO rate||IPO to issue||Total Value|
|General Insurance Company||100||30,00,000||30,00,00,000 ( Rs. 30 Crore)|
After the issuance of IPO, the company’s paid-up capital will reach Rs 1 billion.
General Insurance Company (GIC) is the fastest growing insurance company in Nepal. Company executives come from a variety of sectors, such as Hydro Vac Financial Institutions. The company provides property insurance, motor insurance, marine, household, travel medical insurance, personal accident, theft, money and COVID insurance. The company has managed to provide public insurance in Nepal till date.
In terms of business development, the company will expand its branches across Nepal in all cities and towns to meet the demand for public insurance, while GIC Nepal will provide new products to customers in the coming years.