Himalayan Re Insurance Limited has successfully concluded its Initial Public Offering (IPO) with overwhelming response from investors.
The Sales Manager, NM Capital, announced the commencement of share trading on Wednesday. According to NM Capital, a total of 1,573,219 applications were received for the IPO, with 1,564,564 applications deemed eligible by the capital. The capital has informed that applicants who applied for shares ranging from 10 units to 30 units have been allotted shares according to the demand. For applications exceeding 30 units, a lottery system was employed, and the lucky participants were rewarded with the newly issued shares.
In light of this, 29,021 individuals were granted 10 units each, meaning a total of 290,210 shares were allocated. Moreover, 40 units were allotted to 29,021 participants, resulting in a distribution of 1,160,840 shares. The final outcome of the IPO will be published after some time.
The company initiated the sale of shares from the 27th of Mangsir. Himalayan Rice Insurance Limited issued a total of 24.9 million shares to the public. The company set the offer price at NPR 206 per share, which includes a premium of NPR 106 per share.
Himalayan Re Insurance Limited holds the distinction of being the first company in the private sector to go public . The company has made a significant mark in the private sector’s renaissance.
Way TO Check IPO Result
Method 1: MeroShare Website
- Open your web browser and go to the MeroShare IPO Result website: https://iporesult.cdsc.com.np/
- On the website’s homepage, you’ll find an option to select the IPO result. Look for “Himalayan Re Insurance” in the list of available IPOs.
- Click on “Himalayan Re Insurance“ to access the IPO result page.
- Enter your 16-digit BOID (Beneficiary Owner Identification) number in the provided field. This is the number you received from your brokerage or the CDS and Clearing Limited.
- Click on the “View Result” button.
- The result for your IPO application will be displayed on the screen, showing whether you have been allotted shares or not.