Guardian Micro Life Insurance Limited IPO Opening to the Public from Poush 21

Kathmandu, 11 Poush . Guardian Micro Life Insurance Limited is set to issue its Initial Public Offering (IPO) for the public starting from Poush 21. The company intends to issue shares equivalent to 22,50,000 units, which is 30 percent of its total capital of 750 million rupees, after obtaining approval from the Nepal Securities Board.

In the first phase of this IPO, 10 percent or 225,000 units have already been allocated to Nepalese citizens employed abroad. In the second phase, starting from Poush 21, 18,45,000 units will be issued to the public.

Additionally, the company has reserved 3 percent or 67,500 shares for its employees and 5 percent or 112,500 shares for collective investment funds (mutual funds).

Members of the public can apply for a minimum of 10 shares and a maximum of 100,000 shares. Applications will be accepted until Poush 24. If all shares are not sold by the stipulated time, the application period can be extended until Magh 6.

The company’s share issuance and sales manager is Kumari Capital Limited. Interested investors can apply through all approved ASBA member banks and financial institutions by visiting their branch offices or via the online ‘Mero Share’ system developed by CDS and Clearing Limited.

CARE Ratings Nepal has assigned the company a 'CARE NP Double B Minus Issuer Rating', indicating a moderate risk in the company's ability to meet its obligations.

Guardian Micro Life Insurance Limited has been offering various micro life insurance products such as term plans, endowment plans, and group insurance schemes.