Guardian Micro Life Insurance IPO Receives Overwhelming Response on Opening Day

Kathmandu – Guardian Micro Life Insurance Limited has opened its Initial Public Offering (IPO) for sale to the general public from January 5, 2025, receiving an overwhelming response from investors. According to CDS and Clearing Limited, 448,569 applicants have applied for a total of 6,330,000 units of shares worth NPR 633 million as of 5:06 PM on the opening day.

The company has issued a total of 1,845,000 units of shares at a price of NPR 100 per unit, targeting to raise NPR 184.5 million. Investors can apply for a minimum of 10 units and a maximum of 100,000 units. The IPO will remain open until January 8, 2025, but the application period will be extended until January 23, 2025, if sufficient applications are not received.

Guardian Micro Life Insurance had earlier obtained approval to issue 2,250,000 units of shares worth NPR 225 million, representing 30% of its issued capital of NPR 750 million. Kumari Capital has been appointed as the IPO sales manager.