5th January 2024, Kathmandu
Guardian Micro Life Insurance Limited has officially opened its Initial Public Offering (IPO) to the general public starting today, January 5, 2025 (Poush 21, 2081).
Guardian Micro Life Insurance IPO Opens
After successfully allocating shares to Nepali individuals employed abroad in the first phase, the company has now made the shares available for general investors.
The company is issuing 1,845,000 shares at a par value of NPR 100 per share, aiming to raise NPR 184.5 million. Investors can apply for a minimum of 10 shares and up to 100,000 shares. The application period for the IPO will remain open until January 8, 2025 (Poush 24, 2081). However, if the IPO is not fully subscribed within this period, the application deadline will be extended to January 24, 2025 (Magh 10, 2081).
The company approved issuing 2,250,000 shares, representing 30% of its NPR 750 million issued capital, worth NPR 225 million. Of this, 225,000 shares (10%) were allocated to Nepali citizens working abroad, and the shares have already been distributed in the first phase. Additionally, 5% of the shares have been reserved for mutual funds, while 3% have been allocated for company employees.
The remaining 1,845,000 shares are now available for public subscription.
IPO Details
- Share Price: NPR 100 per share
- Total Shares for General Public: 1,845,000 shares
- Total Capital to be Raised: NPR 184.5 million
- Minimum Application: 10 shares
- Maximum Application: 100,000 shares
IPO Issue Manager
The IPO issuance and sales are being managed by Kumari Capital Limited. Investors can apply for the IPO through all banks and financial institutions approved by the Nepal Securities Board (SEBON), their branch offices, or via the Mero Share online platform.
Guardian Micro Life Insurance aims to enhance its capital base through this IPO issuance and expand its services across Nepal.
For more: Guardian Micro Life IPO Opens
