Kathmandu. Crest Micro Life Insurance’s IPO has received 13 times more applications till the last day. According to the CDSC, 20 lakh 48 thousand 538 applicants have applied for 2 crore 44 lakh 92 thousand 170 units in this IPO till 5 pm today. Which is 13.27 times more than the demand.
The company has been selling the IPO since Falgun 22. The company has issued the IPO for general investors in the second phase after allocating the IPO issued by Nepalis employed abroad.
The company had received permission to issue 2.2 lakh 50 thousand units of shares worth Rs 225 million, which is 30 percent of its issued capital of Rs 750 million. Out of this, 225,000 units worth 10 percent of the total amount of 22.5 million rupees have been issued and distributed to Nepalese working abroad.
Similarly, 67,500 units have been distributed to the company’s employees and 112,500 units of ordinary shares have been distributed to collective investment funds. Now, in the second phase, the company has issued 184,450,000 units of ordinary shares worth 184.5 million rupees to the general public.
Due to the oversubscription, this IPO will also be distributed through a lottery. In which 184,500 lucky people will get shares at the rate of 10 units. The company’s share issuance and sale manager is NIMB S Capital.
