IPO for General Public Opens Today at Crest Micro Life Insurance

Kathmandu, Falgun 22. Crest Micro Life Insurance Limited has launched its IPO today. The company is issuing an IPO for the general public. They have issued 1,845,000 shares worth NPR 184,500,000 at a rate of NPR 100 per share. 

The company received permission from the Securities Board of Nepal to issue 225,000 shares of the IPO for Nepalis working abroad at a rate of NPR 100 per share, of which they have already sold. Similarly, they have reserved 67,500 shares 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 Falgun 26. If not subscribed during this period, applications will be allowed until Chaitra 7. A minimum of 10 shares and a maximum of 10,000 shares can be applied for. 

Applications for this IPO can be submitted through C-ASWA approved banks and financial institutions and via Meroshare. NIMB S Capital is the issue manager for this offering. 

The rating agency ICRA Nepal has assigned a ‘ICRA Nepal Issuer BB Rating’ to this insurance IPO, indicating a moderate level of risk in the company's ability to fulfill its obligations. ICRA Nepal provided this rating on Bhadra 7, 2081. This rating will remain valid until Bhadra 5, 2082.