Nepal Micro Insurance To Issue IPO

Nepal Micro Insurance Limited is going to issue an IPO (Initial Public Offering) from Magh 8. The company has received approval from the Securities Board of Nepal to issue 2.25 million shares at a price of 100 rupees per share for Nepali workers abroad.

Out of these, 10% (225,000 shares) will be available for Nepali workers abroad. Another 3% (67,500 shares) will be reserved for employees, and 5% (112,500 shares) will be reserved for collective investment funds.

The remaining 1.845 million shares will be available for the general public to apply for. Nepali workers abroad can apply for these shares until Magh 22. The minimum application is for 10 shares, and the maximum is for 100,000 shares. Care Ratings Nepal has given the IPO a rating of 'CARE-NP BB Minus', which means there is a medium-level risk in the company's ability to meet its obligations.

Nepali workers abroad can apply through C-ASWA approved banks, financial institutions, or My Share platform.