Guardian Micro Life Insurance’s IPO proposal was approved by SEBON on November 24 (9th Mangsir). Guardian Micro Life Insurance IPO release date will be announced soon, where at first the IPO will be opened for the Nepali living in the foreign after that it will be opened for the general public living in Nepal.
The board approved the issuance of 75 lakh shares, of which 30% (22 lakh 50 thousand shares) will be issued to the general public, while the founding group will hold the remaining 70%. The IPO price is set at a nominal value of NPR 100 per share, and Kumari Capital will manage the issuance as the appointed issue manager. The IPO release date will be very announced soon.
On the same day, the recommendation committee shortlisted the names of three candidates for the SEBON chairman position. Among the shortlisted candidates the new chairman of SEBON will be appointed.
Key Details:
| Details | Information |
| IPO Approval Date | November 24, 2024 (9th Mangsir) |
| Total Shares Issued | 75 lakh units Share |
| Public Share Allocation | 30% (22 lakh 50 thousand shares) |
| Founding Group Share Allocation | 70% of the total shares |
| IPO Price per Share | NPR 100 |
| Issue Manager | Kumari Capital Limited |
According to a member of the securities board, there is a provision for the microinsurance company in Nepal that Microinsurance companies must issue an IPO of at least 30 percent to the general public. Guardian Micro-Life Insurance has met all the necessary criteria, which led to the approval of its IPO issuance.
Seven companies have received approval from the Insurance Authority to operate microinsurance services in Nepal. Among these, three are life microinsurance companies, and four are non-life microinsurance companies.