Prabhu Mahalaxmi Life Insurance Opens Sealed Bid Auction for Founder Shares
10th September 2026, Kathmandu
Prabhu Mahalaxmi Life Insurance Limited has announced the sale of 31,588 founder shares through a sealed bid auction process.
Prabhu Mahalaxmi Sealed Bid Auction
The offering follows a prior 35 day priority window issued to existing promoter shareholders, with the remaining shares now open to eligible individuals, companies, and institutional investors.
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Auction Parameters and Pricing Guidelines
The company has established specific financial and application thresholds for prospective bidders participating in the sale.
- Minimum Bid Price: The minimum price per share is set at Rs 225. Applications offering a bid price below this threshold will be automatically rejected.
- Application Quantity Limits: Bidders must apply for a minimum of 5,000 shares and can bid up to the maximum available volume of 31,588 shares.
- Bid Formatting: Applicants are required to state both their desired purchase quantity and their specific per share bid price clearly in figures and in words.
Application Submission Process and Timeline
Bidding procedures and application collections are being managed through an appointed issue manager in Kathmandu.
- Application Window: The auction application window opened on Bhadra 25 and will close at the end of official business hours on Ashwin 2, 2083.
- Issue Manager Location: Completed sealed bid forms must be submitted directly to NIC Asia Capital Limited, situated at Trade Tower Nepal, Thapathali-11, Kathmandu.
- Form Procurement: Official application forms can be obtained from the NIC Asia Capital office upon payment of a non refundable cash fee of Rs 100.
- Regulatory Priority Notice: The company noted that the public auction was initiated after fulfilling legal requirements to grant primary right of refusal to existing founder shareholders via a 35 day notice.
For More: Prabhu Mahalaxmi Sealed Bid Auction
