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IPO results of Sanima General Insurance are out: Only 32% get

The IPO results of Samina General Insurance are out today. The live program did happen today at 8:30 am at the premises of NIC ASIA Capital Limited. A total of 273,000 investors are lucky enough to get their share of 10 units each. Out of total 863,945, the lucky recipients are only 32%.

results of sanima general insurance , ipo SGIL
IPO results of Sanima General Insurance

More Details about the IPO results of Samina General Insurance

Issue Manager NIC Asia Capital Limited
Type of Security Ordinary Shares
Total Issues30 Lakhs (3 million)
Per share value NPR 100
Number of shares for staff 120,000 (100% application)
Shares for mutual fund are16,50,000
Shares for general public 27,30,000 (2.73 million)
Issue Open date is on2077-06-21 (7th October, 2020)
Issue closure date is on 2077-06-25 (11th October, 2020)
Total number of applicants are8,66,905
Total shares applied 1,85,91,520
Total valid applicants are863,545
Total invalid applicants are3,360
Total valid share applications185,29,240
Total invalid shares application62,280
Over subscription is6.81 times
Minimum number to apply isTen
Maximum number to apply is1000
Total applicants are8,63,545
Maximum units allotment isTen
IPO announcement Date is16th October, 2020 (2077 Ashiwin 29)

Some general issues related to the IPO

There is a buzz in social media about only NIC Asia Capital DMAT holders are successful in securing the IPO. What we believe is that, this is completely wrong and absurd. At the time of this writing, I have my shares of 10 units which are from NIBL ACE. My close associate who has a DMAT at NIC, is unlucky as well.

Where to view the results of the IPO?

  1. Sharesansar
  2. Bizpati
  3. Nepalipaisa

What will happen when these shares go live on trading?

Now, SGIL becomes financially powerful by increasing its capital to 1 billion rupees. Greener will be the days for investors like me. The share prices will be around 600-800 per unit (assumption!). So don’t haste to sell your lucky shares.

More about SGIL : the company

Sanima  General Insurance Limited (SGIC) is a general (non-life) insurance company. The company offers a  range of general insurance covers for businesses and individuals. It has a comprehensive range of general insurance products for fire, marine,  motor and  engineering as well.

Sanima group is the promoter of this company. It has a total of 18 branches and 10 sub-branches. Total number of employees are 93 and the total number of agents are 208 till this writing. The paid up capital is 700 million and with this IPO there is a flush of 300 million into the capital.

Summarizing the IPO results of Sanima General Insurance

  1. Only 32 percent receive 10 unit shares each in the IPO lottery.
  2. 590,945 applicants seeking primary shares are left null.
  3. Total number of applicants are huge (866,905).
  4. DMAT applicants from every DPO provider have their shares and not just NIC ASIA capital.
  5. The trading will start in a few days
  6. Our assumption is that the initial price will be around 600-800 rupees.

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