Crest Micro-Life Insurance to Issue 22.50 Lakh Shares in IPO | Appoints NIMB Ace Capital as Issue Manager
May 2, 2024 | Investopaper
Crest Micro-Life Insurance Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed NIMB Ace Capital Limited as the issue and sales manager.
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.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the company can issue the shares to the public.
The company plans to sell 22.50 lakh unit shares at the par value of Rs. 100 in the public offering. Hence, the public issue amounts to Rs. 22.50 crores.
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 2080 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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