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Surya Life Insurance to Issue IPO from 2nd March 2010
Published by Octron on March 2, 2010
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Surya life Insurance Company Limited is issuing 10,80,000 units ordinary share to public including 32,400 units secured for its employees. The IPO is opened to public from 2 to 5 March 2010 (2066 Falgun 18 to 21). NMB Bank Limited has been appointed as Issue Manager for this IPO Release.
According to their website, Surya Life Insurance Co. Ltd. has been established and registered under Company Act 2063B.S. (Regd. No. 1006/063-64) and Insurance Act 2049 as a Public Limited Co. and was issued a license to operate Life Insurance Business on 2064/12/06 (19th March 2008). We are the third company in private sector which has been established with sole Nepalese Capital. The company has registered central office in Biratnagar-9, Morang, while maintains corporate office at Han Building, Gairidhara, Kathmandu.
Capital Structure and Ownership Composition after Allotment:
Authorized Capital: Rs. 50,00,00,000
Issued Capital: Rs. 36,00,00,000
Paid-up Capital: Rs. 25,20,00,000 (promoter share 70%)
Public Issue: Rs. 10,80,00,000 (public share 30%)
Total Paid-up Capital after Primary Issue: Rs. 36,00,00,000 (36,00,000 @ Rs. 100).
Board of Directors:
| Name | Designatin | Share Units |
| Rambabu Panta | Chairman | 15,000 |
| Ashish K. Agrawal | Director | 3,00,000 |
| Bibek Agrawal | Director | 3,15,000 |
| Mahesh K. Agrawal | Director | 290,000 |
| Hemanta Nahata | Director | 20000 |
| Nanda Kishor Sharma | Director |
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