Last Day to Apply for Guardian Micro Life Insurance's IPO

Kathmandu, Poush 24. Today is the last day to apply for the IPO of Guardian Micro Life Insurance Limited. The IPO was opened on Poush 21, with Poush 24 being the final day for applications. 
The company has issued 1,845,000 shares worth NPR 184,500,000 at a rate of NPR 100 per share for the general public. It has received permission from the Nepal Securities Board to issue an IPO of 225,000 shares at a face value of NPR 100 each. 

Of these, 225,000 shares have already been sold to Nepalis working abroad at a rate of NPR 100 per share. Similarly, 67,500 shares have been reserved for employees and 112,500 shares for collective investment funds. 

The general public can apply for the remaining 1,845,000 shares. Applications can be submitted until Poush 24. A minimum of 10 shares to a maximum of 100,000 shares can be applied for. 

Kumari Capital is the sales manager for this IPO. Applications can be made through banks and financial institutions that have received C–Approval as well as through Mero Share.

Rating agency Care Nepal has assigned a 'CareNP BB- rating' to the insurance IPO, indicating a medium level of risk regarding the company's ability to meet its obligations. Care Nepal provided this rating on 23 Shrawan 2081. This rating will remain valid until 21 Shrawan 2082.

As of Tuesday (Poush 23), by 5:06 PM, applications have been received for a total of 19,991,890 shares for this insurance IPO. A total of 149,276 ordinary applicants have applied for shares worth NPR 1,999,189,000, according to CDS and Clearing. This is 10.83 times more than the demand.