Guardian Micro Life Insurance IPO Allotted Today

Kathmandu – Guardian Micro Life Insurance Limited conducted its IPO allotment today at 9 AM at Kumari Capital Limited, Naxal.

A total of 1,830,875 individuals had applied for the IPO. Out of these, 8,452 applications were canceled, leaving 1,822,405 eligible applicants to participate in the lottery. A total of 184,500 applicants were selected to receive 10 shares each, while the remaining applicants were left without shares.

The company had issued 1,845,000 shares to the public from January 5 to 8. After the Securities Board of Nepal approved the issuance of 2,250,000 shares, with allocations set for various groups. Of the 22,50,000 shares offered, 2,25,000 shares (10%) were allocated to Nepalese working abroad, 67,500 shares (3%) for company employees, and 1,12,500 shares (5%) for mutual funds. The remaining 18,45,000 shares were made available to the general public at Rs. 100 each.

The final IPO results will be published soon and can be accessed via CDSC’s website at iporesult.cdsc.com.np, the “Mero Share” platform, or the website of Kumari Capital.