IPO Allotment of Nepal Micro Insurance Company Concluded [IPO Result !!]
March 7, 2025 | Investopaper
IPO Allotment Of Nepal Micro Insurance Company Limited
NIMB Ace Capital Limited, the issue manager for the initial public offering (IPO) of Nepal Micro Insurance Company Limited, has concluded the IPO allotment process on Friday.
After the allotment, 1,84,500 applicants received 10 shares each through lottery. A total of 18,06,762 valid applicants had subscribed for the shares. About 16.22 lakh applicants were left empty-handed.
To view the IPO result of Nepal Micro Insurance Company Limited, click the link below:
IPO Result Of Nepal Micro Insurance Company Limited
Second Phase: IPO To General Public
After the first phase, Nepal Micro Insurance Company Limited had issued the shares to the general public in the second phase of an initial public offering (IPO) from Falgun 11, 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 15, 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, Nepal Micro Insurance Company Limited had sold 2,25,000 shares (10 percent of general public’s quota) to the foreign employed Nepalis from Magh 8, 2081 BS. The first phase of the IPO was closed on Magh 22, 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 (including the first and second phase), 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 Poush 25, 2081 BS. The micro-life insurance company had submitted the application to the board on Bhadra 24, 2081 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
NIMB Ace Capital Limited is issue and sales manager for the public offering.
About Nepal Micro Insurance Company Limited
Nepal Micro Insurance Company Limited, incorporated on December 23, 2022, received license from Nepal Insurance Authority on April 10, 2023 to operate micro-life insurance business in Nepal. The company began commercial operation from May 14, 2023. The head office is located at Bharatpur-1, Chitwan, Nepal.
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