IPO Allotment Of IME Life Insurance Concluded [IPO Result]

July 16, 2023 | Investopaper

IPO Allotment Of IME Life Insurance Company Limited

Civil Capital Market Limited, the issue manager for the initial public offering (IPO) of IME Life Insurance Company Limited, has concluded the IPO allotment process on Saturday.

After the allotment, 960,000 applicants have received 10 shares each.

A total of 11,88,996 valid applicants had subscribed for the shares. With the allotment, more than 2.29 lakh applicants were left empty-handed.

To view the IPO result of IME Life Insurance Company Limited, click the link below:

IPO Result Of IME Life Insurance Company Limited


Second Phase: IPO To General Public

After the first phase, the company had 1,08,00,000 shares to the general public, including the employees of the company and the mutual fund schemes. The IPO to general public was open from Ashad 21, 2080 BS.

Due to over-subscription of shares, the public offering was closed on Ashad 25, 2080 BS.

Out of 1,08,00,000 shares, 600,000 shares were alloted for the mutual fund schemes and 6,00,000 shares were reserved for the employees of the company. Hence, the general public could participate in the remaining 96,00,000 shares.

Interested investors could apply for a minimum of 10 shares and a maximum of 10,000 shares at a price of Rs. 236.91 per share. The face value of each share was Rs 100 while Rs 136.91 was the premium.


First Phase: IPO To Foreign Employed Nepalis

In the first phase of the IPO, the life insurance company had issued shares to the Nepalis in Foreign Employment from Ashad 1, 2080 BS. The company had floated 12,00,000 shares in the first phase (10 percent of the general’s public quota)

The IPO to foreign employed Nepalis was closed on Ashad 15, 2080 BS.


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Securities Board (SEBON) had given the permission on Jestha 23, 2080 BS to the company for the public issuance. The company had submitted an application to the board on Falgun 28, 2079 BS seeking approval for the IPO issuance.

In total (including first and second phase), IME Life Insurance will issue 1,20,00,000 unit shares in the IPO at a price of Rs 236.91 per share. Hence, the total public issue amounts to Rs 276.07 crores.

Civil Capital Market Limited is the issue manager for the IPO.


About IME Life Insurance Company

IME Life Insurance Company was registered in Ashwin 15, 2065 (October 1, 2008). It started its operation from Bhadra 1, 2074 (August 17, 2017).

As of Chaitra’s end, 2079 BS, the company has a paid-up capital is Rs 2.80 Arba. The company will float the 30 percent share to the general public. Thus, the promoters will possess 70 percent ownership in the company after the IPO.

Dr. Ram Hari Aryal  is the chairman of the company.


Related:

Upcoming Initial Public Offerings (IPO) In Nepal

Book Building Method In Nepal: Provision To Issue IPO At More Than Rs 100

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3 thoughts on “IPO Allotment Of IME Life Insurance Concluded [IPO Result]

  • June 24, 2023 at 5:19 am
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    नमस्कार ? सर

    मैले विदेश वाट IPO भर्दौ आएको थिएँ तर यो IME Liffe को भर्न मिलेन किन होला । एप नै खोल्ने वित्तिकै एप वन्द हुन्छ किन होला । क्रिपया यो कताको समस्या होला ?
    अरू सवै भर्न मिलिरहेको छ । क्रिपया कसरि समस्या समाधान गर्ने होला ?

    Reply
    • June 30, 2023 at 7:58 pm
      Permalink

      श्रम स्विकृतीको म्याद सकियो कि?

      Reply
  • July 3, 2023 at 9:11 am
    Permalink

    Ime lifeko result kahile publicised hunxa hola sir

    Reply

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