Citizen Life Insurance IPO- upcoming IPO 2080

Introduction

citizen life insurance IPO(initial public offering) is coming to the public. The total capital of the citizen life insurance is Rs. 37,50,00,000 and the company will issue 30 % of the capital which becomes Rs. 1,12,50,00,000( 1,12,50,000 units of share) to the public. 5% of 1,12,50,000 which is 5,62,500 units of share will be allocated to the workers of the company at the face value of Rs.100.

The left 1,06,87,500 units of shares will be issued to eligible foreign employees, mutual funds and the general public. 11,25,000 units, 5,62,500 units and 90,00,000 units of share will be issued to eligible foreign Nepalese employees, mutual funds and the general public respectively. Citizen life insurance IPO will be open for issue in two phases. In first phase it will be open for eligible Nepalese foreign employees from 2080/03/31 to 2080/04/14 at the price of Rs. 244 (Rs. 100 face value and Rs. 144 premium value)

In the second phase, it will be open for application to the general public. The citizen life insurance ipo issue manager is Nimb Ace Capital Limited. Citizen life insurance IPO has got ICRA NP issuer rating BBB which means a moderate degree of safety regarding financial obligations. This rating will be valid till 2081/02/25.

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Company Details

One of the fastest-growing companies in the insurance sector is citizen life insurance company limited. it started its operations on 2017/10/19 onwards. The share structure of the company is 70% promoters and 30% public. The major promoters of the company are Kantipur media group, Shikhar, insurance, reputed aviation industries and many other successful CEOs bankers etc. The registered office of the company is located at Thapathali, Kathmandu, Nepal.

Financial Details