Kathmandu. More than 1.9 million people have applied for the IPO of Nepal Micro Insurance. According to the latest data of CDSC, i.e. as of 10 am on Falgun 16, 202984 people have applied for the purchase of 2 crore 45 lakh 4 thousand 310 units. This means that 13.28 times more applications have been received.
Due to the higher number of applications than the demand, this IPO will also be distributed through a lottery. In which 1 lakh 84 thousand 500 lucky applicants will get shares at the rate of 10 units.
The company had issued an IPO for general investors from Falgun 11. The company had received permission to issue 2.25 million shares worth Rs 225 million, equivalent to 30 percent of its issued capital of Rs 750 million, in an IPO.
Out of this, 225,000 shares worth Rs 225 million, equivalent to 10 percent, were issued to Nepalis employed abroad. The company has issued and distributed 67,500 units to its employees and 112,500 units to the collective investment fund.
The company has issued 1845,000 units of shares worth Rs. 1845 million to the general public in the second phase.
Care Rating Nepal has assigned Care NP Double B Minus Issuer Rating to the company in the rating for the IPO issuance. This indicates that there is a medium risk in the company’s ability to meet its obligations. NIMB S Capital is the IPO sale manager of the company.
