June 02, 2019 (2076.02.19) Sunday
Reliance Life Insurance Ltd., promoted by Siddhartha Bank Ltd. and few reputed business houses of Nepal, started its commercial operation from November 17, 2017(2074.08.01) and has been rendering life insurance services through its 88 Branches/Sub- Branches spread across Nepal. The Authorized Capital of the Company is NPR 3 Billion; Issued Capital is NPR 2.10 Billion while the balance of NPR 630 Million i.e. 30% of Issued Capital is being set aside for public offer through Initial Public Offering (IPO) to the masses.
In order to facilitate the said IPO of NPR 630 Million & to appoint an Issue Manager for the same, Reliance Life Insurance Ltd. & Sanima Captial Ltd. have entered into an Issue Management Agreement. The Agreement was duly signed by Mr. Pravin Raman Parajuli, CEO of Reliance Life Insurance Ltd. & Mr. Manish Narayan Joshi, CEO of Sanima Capital Ltd. on behalf of both the institutions.