21st January 2025, Kathmandu
Nepal Micro Insurance Limited has officially opened its Initial Public Offering (IPO) for applications starting today, Magh 8, 2081 (January 21, 2025).
Nepal Micro Insurance IPO Abroad
This IPO targets Nepali citizens working abroad, giving them the chance to invest in the company’s growth. The company plans to issue a total of 2.25 million shares, with 10% specifically allocated for foreign workers.
IPO Details and Allocation
Nepal Micro Insurance is issuing shares with a face value of NPR 100 each. A total of 67,500 shares (3%) are reserved for company employees, while 112,500 shares (5%) are allocated to mutual funds. The remaining 1.845 million shares will be available for the general public, contributing to the company’s capital raising of NPR 225 million.
Foreign Workers Eligible to Apply
Nepali foreign workers can apply for the IPO. The application process is available through ASBA member banks, financial institutions, and the online platform “Mero Share.” Applications can be submitted at designated branches of the approved institutions or via the Mero Share system. The deadline to apply is Magh 22, 2081 (February 4, 2025).
About Nepal Micro Insurance Limited
Based in Bharatpur, Chitwan, Nepal Micro Insurance is a licensed micro-insurance provider. The company offers small-scale life insurance services and is expanding its operations through this IPO. The company’s authorized capital stands at NPR 750 million, and this IPO will raise 30% of that amount.
Application Process and Eligibility
Interested applicants can apply for a minimum of 10 shares, with a maximum of 100,000 shares. Foreign workers are encouraged to invest in this opportunity, contributing to the growth of Nepal’s insurance sector. After processing applications from foreign workers, the company will open the IPO to the general public.
Managed by NIMB Capital Limited
The IPO is being managed by NIMB Capital Limited, which is overseeing the issuance and sales of shares. Foreign workers can submit their applications either through the ASBA method or using the Mero Share online platform.
Supporting the Insurance Sector’s Growth
This IPO aims to raise capital to strengthen Nepal Micro Insurance’s financial base and expand its services. The company seeks to provide accessible insurance options for Nepali workers abroad. With a large workforce of Nepali nationals working overseas, the company expects strong participation in the IPO.
Conclusion: A Unique Opportunity for Foreign Workers
The IPO offers Nepali foreign workers an opportunity to invest in a growing insurance company. With the application window open until February 4, 2025, interested individuals should act quickly to secure their shares. This move marks a significant step towards increasing the accessibility of financial services for Nepalese abroad.
For more: Nepal Micro Insurance IPO Abroad
