KATHMANDU, Jan 8: Guardian Microlife Insurance's IPO has been significantly oversubscribed, receiving 13.65 times more applications than the number of shares available. The company offered 1.845 million shares to the public, but received applications for 25.19 million shares, totaling Rs 2.519 billion in demand.
According to the CDS and Clearing Limited, a subsidiary of Nepal Stock Exchange, only 184,500 applicants will receive shares, leaving 1.72 million applicants without any allocation. The shares were offered at a face value of Rs 100 each, amounting to Rs 184.5 million.
Earlier, the company had sold IPOs to foreign workers, collective investment funds, and employees in the first phase, distributing a total of 405,000 shares.
Guardian Micro Life’s IPO receives 9.51 times more applications...
Guardian Microlife Insurance, which received its license from the Nepal Insurance Authority in 2079, is expanding its operations. The company earned a profit of Rs 2.75 million last year and expects to make Rs 8.41 million in profit this year. Its earnings per share stand at Rs 0.25, and the net worth per share is Rs 100.59.
