IPO Allotment of Guardian Micro-Life Insurance Concluded [IPO Result !!!]
January 19, 2025 | Investopaper
IPO Allotment Of Guardian Micro Life Insurance Limited
Kumari Capital Limited, the issue manager for the initial public offering (IPO) of Guardian Micro Life Insurance Limited, has concluded the IPO allotment process on Sunday.
After the allotment, 1,84,500 applicants received 10 shares each through lottery. A total of 18,22,405 valid applicants had subscribed for the shares. About 16.46 lakh applicants were left empty-handed.
To view the IPO result of Guardian Micro Life Insurance Limited, click the link below:
IPO Result Of Guardian Micro Life Insurance Limited
Second Phase: IPO To General Public
After the first phase, Guardian Micro Life Insurance Limited had issued the shares to the general public in the second phase of an initial public offering (IPO) from Poush 21, 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 Poush 24, 2081 BS.
Interested investors could apply for a minimum of 10 shares and a maximum of 1,00,000 shares.
The company had 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, the company had floated 2,25,000 shares (10 percent of general public’s quota) to the foreign employed Nepalis from Mangsir 19, 2081 BS. The first phase of the IPO was closed on Poush 3, 2081 BS.
Interested Nepalis in foreign employment could apply for a minimum of 10 shares and a maximum of 1,00,000 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.
For this purpose, Securities Board of Nepal (SEBON) granted permission to the company on Mangsir 7, 2081 BS. The micro-life insurance company had submitted the application to the board on Shrawan 24, 2081 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
The company has appointed Kumari Capital Limited as issue and sales manager. The agreement for public offering has already been signed between the company and Kumari Capital in this regard.
About Guardian Micro-Life Insurance Limited
Guardian Micro-Life Insurance Limited, incorporated on n 26th December 2022, received license from Nepal Insurance Authority on 10th April 2023 [Chaitra 27, 2079 BS] to operate micro-life insurance business in Nepal. The company began commercial operation from 7th July 2023 [Ashad 22, 2080 BS]. The head office is located at Biratnagar, Morang.
As of Ashad’s end 2081 BS, the major promoters of the company include:
—Deepak Bhatta (21.43% share),
—S.G. Fincorp Pvt. Ltd. (21.43% share),
—Nepbulls Capital Pvt. Ltd (11.47% share),
—Hulas Auto Craft Pvt. Ltd. (5.71% share),
—Raj Bahadur Shah (5.71% share),
—Subham Dugar (5.71% share) and others
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