The Securities Exchange Board of Nepal (SEBON) has approved the IPO proposal of Crest Micro Life Insurance Limited, which was submitted on 3rd Magh, 2081. The company plans to raise Rs. 75 crore through this IPO and will soon announce the opening date.
The IPO will issue 7,500,000 equity shares at a face value of Rs. 100 per share. NIMB Ace Capital Limited has been appointed as the issue manager for the IPO.
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:
Crest Micro Life Insurance Limited was Established in April 2023 its head office is located in Surkhet, and the registered office is in Sanepa, Lalitpur. The company 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.
Credit Rating:
ICRA Nepal has assigned the company an issuer rating of [ICRANP-IR] BB (double B). This rating indicates a moderate risk of default on financial commitments and reflects the company’s overall creditworthiness.