IPO of Sanima Life Insurance is open from today

Sanima Life Insurance has opened its IPO from today. Six million shares worth Rs 600 million of the company have been opened for sale from today.

Sanima Life's current paid up capital is Rs 1.40 billion. Equivalent shares have been issued to account for 30 percent of the paid-up capital after the IPO. Of that, 5 percent or 300,000 shares will be allotted to employees and another 5 percent or 300,000 shares to mutual funds and the remaining 5.4 million shares will be sold to the public.

The company's APO will be open till July 8 as soon as possible. The company has stated that one can apply for a minimum of 10 lots to 30,000 lots. However, due to the high number of applicants in the market, there is a possibility of a maximum of 10 lots per applicant. The company's IPO issuance and sales manager is Prabhu Capital. The sale of the shares has been guaranteed by Siddhartha Capital.