7th March 2025, Kathmandu
Nepal Micro Insurance Limited has completed the allotment of shares from its initial public offering (IPO). The allotment process took place this morning at NIMB S Capital’s office, the company’s issue manager.
Nepal Micro Insurance Shares
High Demand for Shares
The IPO saw a large number of applicants. A total of 18,17,148 individuals applied for 2,24,46,350 shares. After reviewing the applications, 18,06,762 were approved, and 10,386 applications were canceled. The total number of approved shares requested was 2,22,74,390.
Share Distribution Process
The share allotment was carried out using a lottery system due to overwhelming demand. As a result, 1,84,500 applicants were allotted 10 shares each, amounting to 18,45,000 shares. Unfortunately, the remaining 16,22,262 applicants did not receive any shares.
IPO Details and Pricing
Nepal Micro Insurance opened its IPO to the public from 23 to 27 February. The company issued 18,45,000 shares at a face value of NPR 100 per share. The shares were offered to allow the public to become part of the company and strengthen its presence in the insurance market.
How to Check Allotment Results
Applicants can check their allotment results by visiting the Meroshare website. By entering their application report or Demat number, they can easily view whether they have received shares. The results are now available for all those who applied.
Overview of Nepal Micro Insurance
Nepal Micro Insurance has been expanding its reach within the country. The company’s IPO is a key step in its plan to enhance its services and expand its customer base. This IPO will help the company raise capital to further develop its business and provide better services to its customers.
Conclusion
With a strong response to its IPO, Nepal Micro Insurance has completed its share allotment process successfully. Although demand exceeded supply, the lottery system ensured fair distribution among the approved applicants. This marks a significant milestone for the company, which is poised for continued growth in the competitive insurance sector in Nepal.
For more: Nepal Micro Insurance Shares