Prabhu Mahalaxmi Life Insurance Announces Sale of 1.64 Million Promoter Shares

13th September 2026, Kathmandu

Prabhu Mahalaxmi Life Insurance Limited has formally announced the sale of 1.64 million promoter shares following formal requests from existing promoter shareholders seeking to transfer their holdings.

Prabhu Mahalaxmi Announces Sale 

In line with regulatory mandates, the company has opened an initial application window dedicated exclusively to existing promoter shareholders. This provides current internal stakeholders the first right to acquire the offered equity before the company considers opening the purchase opportunity to external investors.

Priority Offering and Application Timeline

A total of 1,640,000 promoter shares are currently placed on offer. Existing promoter shareholders interested in purchasing these shares must submit their physical applications to the central office of Prabhu Mahalaxmi Life Insurance Limited, located in Kamaladi, Kathmandu.

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Key details regarding the application submission include:

• Submission Deadline: Applicants must deliver their formal purchase requests within 35 days from the date of the notice publication.
• Regulatory Eligibility: Interested buyers must submit all supporting documentation verifying compliance with the Fit and Proper Test criteria specified by the Nepal Insurance Authority. The evaluation ensures that prospective share owners satisfy the regulatory standards required for holding ownership in regulated financial institutions.

Potential Secondary Offering to External Investors

Prabhu Mahalaxmi Life Insurance Limited noted that the current offering phase strictly prioritizes the promoter group. If existing promoter shareholders do not apply for the full block of 1.64 million shares within the allocated 35-day window, the company will initiate secondary procedures.

Under secondary procedures, remaining unallocated shares may be made available to external individual or institutional investors, subject to prevailing insurance regulations and legal approval frameworks. Interested promoter shareholders are encouraged to finalize their verification documents and submit their applications prior to the deadline.

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