Guardian Micro Life Insurance’s IPO for Nepalese Abroad Receives Overwhelming Response

Kathmandu – Guardian Micro Life Insurance’s Initial Public Offering (IPO) for Nepalese working abroad has received applications worth NPR 258.3 million, reflecting a strong response from investors.

According to CDS, a total of 47,659 applicants submitted requests for 2,583,440 units of shares by the end of the application period on December 18. The company had offered 225,000 units of IPO shares to Nepalese working abroad, starting from December 4.

Investors were required to apply for a minimum of 10 units and could request up to 100,000 units. Kumari Capital Limited served as the sales manager for the IPO.

The offering has been rated ‘CareNP BB- (Double B Minus)’ by Care Ratings Nepal, indicating a moderate risk in the company’s capacity to fulfill its financial obligations.

Applications for the IPO were facilitated through C-ASBA-accredited banks and financial institutions as well as the Mero Share platform, enabling easy access for Nepalese abroad.