Guardian Micro Life Insurance’s IPO has been allotted today. The allotment was completed at the office of Kumari Capital. Guardian Micro Life had opened the IPO sale for Nepalese working abroad from Mangsir 19 to Poush 3 in the first phase.
The company had received permission from the Nepal Securities Board to issue an IPO of 30 percent of the paid-up capital, i.e. Rs. 225 million. After the IPO sale, the company’s paid-up capital will reach Rs. 750 million. In the first phase, the company sold 10 percent of Rs. 225 million, i.e. Rs. 225 million. Accordingly, the company had opened the sale of 225,000 units of shares with a face value of Rs. 100.
A total of 37,219 people had applied for the IPO. Out of which, 10 applications were canceled. The shares have been allotted from 37,209 eligible applicants as per the provisions of the Securities Issuance and Allotment Guidelines, 2074. In this, 22,500 applicants have received shares at the rate of 10 units, while 14,709 applicants have been left empty-handed.
Now, after selling the IPO to Nepalis employed abroad, the company will open the sale of 3 percent (67,500 units) to its employees, 5 percent (112,500 units) to collective investment funds, and the remaining 1.845 million units to the general public in the second phase.
How to check result ?
The IPO results of Guardian Micro Life Insurance can be viewed on Kumari Capital’s website, CDSC’s https://iporesult.cdsc.com.np/, and Mero Share.