The IPO proposal of Crest Micro Life Insurance Limited has been approved by the Securities Exchange Board of Nepal (SEBON). The company will soon announce the IPO opening date which aims to raise Rs. 75 crore by issuing equity shares.
Key Details of the IPO:
Equity Shares Offered:
The company will issue 7,500,000 equity shares at a face value of NPR 100 per share.
IPO Manager:
NIMB Ace Capital Limited has been appointed as the issue manager for this offering. The IPO proposal was submitted to SEBON on March 3, 2081.
Credit Rating:
ICRA Nepal has assigned Crest Micro Life Insurance Limited an issuer rating of [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating double B). This indicates a moderate risk of default on financial commitments and reflects the company’s general creditworthiness.
Company Overview:
Operational License:
Crest Micro Life Insurance Limited received its license from the Insurance Board in April 2023.
Offices:
The head office is located in Surkhet, and the registered office is in Sanepa, Lalitpur.
Financial Overview:
- Paid-Up Capital: NPR 525 million (as of mid-July 2024).
- Key Shareholders:
- Himalayan Reinsurance Limited: 21.43%
- Metro Capital Pvt. Ltd.: 16.62%
- Profit and Assets:
- FY2023: Profit of ~NPR 4.50 million, total assets of ~NPR 546 million.
- FY2024: Profit of ~NPR 11 million, total assets of ~NPR 611 million.
About Crest Micro Life Insurance Limited:
Established in April 2023, Crest Micro Life Insurance Limited is dedicated to providing reliable insurance services in Nepal. With a strong shareholder base and growing financial performance, the company aims to expand its reach and deliver value to its customers.