Guardian Micro Life Insurance Limited has opened its Initial Public Offering (IPO) today, Mangsir 19, for Nepalese citizens residing abroad. The IPO will close on Poush 3, 2081 and the date will not be extended.
IPO Details:
75 lakh shares worth 75 crore were approved for issuance by SEBON. The company has separated 22,50,000 shares i.e. 30% of 75 lakh shares for the general public worth 22 Crore 50 lakh. These 30% shares are planned to be distributed in the following way:
- 10% of 22,50,000 shares i.e. 2,25,000 units shares worth 2 crores 25 lakh is reserved For Nepalese Working Abroad which is open from today.
- 5% of 22,50,000 shares i.e. 1,12,500 unit shares is reserved For Mutual Funds.
- 3% of 22,50,000 shares i.e. 67,500 unit shares are separated for company employees.
- The remaining 18,45,000 unit shares will be opened to the General Public.
Application Details:
Kumari Capital will manage the IPO issuance per the companies’ agreement. Under this arrangement, each individual applying for the Guardian Micro Life Insurance IPO can submit their application as follows:
- Minimum Application: 10 units.
- Maximum Application: 1,00,000 units.Issue Manager: Kumari Capital.
Credit Rating:
Additionally, for the individuals thinking about the company status, the company has been assigned a CARE NP Double B Minus Issuer Rating by CARE Ratings Nepal, indicating moderate risk in meeting financial obligations.
Final Prospectus: Guardian Micro Life Insurance IPO For Foreign Nepalese
