IPO Allotment of Crest Micro-Life Insurance Concluded [IPO Result !!]
March 18, 2025 | Investopaper
IPO Allotment Of Crest Micro-Life Insurance Limited
NIMB Ace Capital Limited, the issue manager for the initial public offering (IPO) of Crest Micro-Life Insurance Limited, has concluded the IPO allotment process on Tuesday.
After the allotment, 1,84,500 applicants received 10 shares each through lottery. A total of 19,55,685 valid applicants had subscribed for the shares. About 17.71 lakh applicants were left empty-handed.
To view the IPO result of Crest Micro-Life Insurance Limited, click the link below:
IPO Result Of Crest Micro-Life Insurance Limited
Second Phase: IPO To General Public
After the first phase, Crest Micro-Life Insurance Limited had issued the shares to the general public in the second phase of an initial public offering (IPO) from Falgun 22, 2081 BS.
The company had sold 18,45,000 shares at Rs. 100 per share to the general public.
Due to over-subscription of shares, the second phase of the IPO was closed on Falgun 26, 2081 BS.
Interested investors could apply for a minimum of 10 shares and a maximum of 10,000 shares.
The company allotted 1,12,500 shares to the mutual fund schemes and has reserved 67,500 shares to the employees.
First Phase: IPO To Foreign Employed Nepalis
In the first phase of the IPO, Crest Micro-Life Insurance Limited had floated 2,25,000 shares (10 percent of general public’s quota) to the foreign employed Nepalis from Magh 15, 2081 BS. The first phase of the IPO was closed on Magh 29, 2081 BS.
Interested Nepalis in foreign employment could apply for a minimum of 10 shares and a maximum of 10,000 shares.
In total, the company has plans to sell 22,50,000 unit shares in the public offering (including the first and the second phase). At a par value of Rs 100, the public issue amounts to Rs 22.50 crores.
Securities Board Of Nepal (SEBON) gave the approval to the company on Magh 3, 2081 BS regarding the public issuance.
NIMB Ace Capital Limited is the issue and sales manager for the IPO. The agreement was signed by Mr. Sibanta Bahadur Pande, Chief Executive Officer of NIMB Ace Capital and Mr. Pratap Man Shrestha, Chief Executive Officer of Crest Micro-Life Insurance Limited.
About Crest Micro-Life Insurance Limited
Crest Micro-Life Insurance Limited, incorporated on Jestha 14, 2080 BS as a public limited company, has a license from Nepal Insurance Authority to operate micro-life insurance business in Nepal.
As of Ashad’s end 2081 BS, the major promoters of the company include:
—Himalayan Reinsurance Limited (21.43% share),
—Metro Capital Pvt. Ltd. (16.62% share),
—Kishan Lal Dugar (6.67% share),
—K.R.S Investment Pvt. Ltd. (6.67% share),
—Sangeeta Devi More (3.97% share),
—Anupam Rathi (3.33% share) and others
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