Nepal Micro Insurance Company has received approval to issue its Initial Public Offering (IPO).
On 25 Poush, Nepal Securities Board granted permission to the company to issue 22,50,000 shares worth a total of NPR 22.5 crore. Each share will be priced at NPR 100.
The IPO issuance process will be managed by NIMB Ace Capital, which has been appointed as the sales manager for the offering. Out of the total shares, 30 percent—equivalent to 22,50,000 shares—will be allocated for the general public, while the remaining 70 percent will be reserved for the founders of the company.
This move aligns with the directive issued by Nepal Insurance Authority, which mandates micro-insurance companies to collect 30 percent of their paid-up capital from the general public. This initiative is expected to promote the development of the insurance sector and encourage public participation.
Earlier, Guardian Micro Life Insurance had also received approval to issue its IPO. With this step, Nepal Micro Insurance Company aims to strengthen its financial foundation while contributing to the growth of the insurance industry in the country.