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%.
More Details about the IPO results of Samina General Insurance
|Issue Manager||NIC Asia Capital Limited|
|Type of Security||Ordinary Shares|
|Total Issues||30 Lakhs (3 million)|
|Per share value||NPR 100|
|Number of shares for staff||120,000 (100% application)|
|Shares for mutual fund are||16,50,000|
|Shares for general public||27,30,000 (2.73 million)|
|Issue Open date is on||2077-06-21 (7th October, 2020)|
|Issue closure date is on||2077-06-25 (11th October, 2020)|
|Total number of applicants are||8,66,905|
|Total shares applied||1,85,91,520|
|Total valid applicants are||863,545|
|Total invalid applicants are||3,360|
|Total valid share applications||185,29,240|
|Total invalid shares application||62,280|
|Over subscription is||6.81 times|
|Minimum number to apply is||Ten|
|Maximum number to apply is||1000|
|Total applicants are||8,63,545|
|Maximum units allotment is||Ten|
|IPO announcement Date is||16th 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?
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
- Only 32 percent receive 10 unit shares each in the IPO lottery.
- 590,945 applicants seeking primary shares are left null.
- Total number of applicants are huge (866,905).
- DMAT applicants from every DPO provider have their shares and not just NIC ASIA capital.
- The trading will start in a few days
- Our assumption is that the initial price will be around 600-800 rupees.