Kathmandu. Mahalakshmi Life Insurance Company has started the IPO issuance process. The company has started the process of issuing 6 million IPOs. The company has appointed Sanima Capital as the sales manager for the IPO.

 The sales manager agreement was signed by Ramesh Kumar Bhatrai, CEO of the company and Bhishma Raj Chalise on behalf of Capital. The company has been providing insurance services from 63 branches so far. At present the paid up capital of the company is Rs. 1.40 billion.

After the IPO, the company's paid up capital increased to Rs. 2 billion. Now, the company will issue IPO only after completing the necessary process and getting approval by submitting an application to the regulatory body Nepal Securities Board. The company had a net profit of Rs. 53 million while the total profit was Rs. 698.5 million in total.