Nepal Micro Insurance IPO Allotment Completed Today

Kathmandu – The initial public offering (IPO) of Nepal Micro Insurance Company has been allotted today, Friday. The allotment process was completed at the office of NIMB Ace Capital Limited, the issue manager for the company.

A total of 1.9 million applicants had applied for 24.5 billion shares. However, only 184,500 lucky applicants received shares at the rate of 10 shares per person, while the remaining 1.718 million applicants were left empty-handed.

Earlier, the company had allocated 10% of its total IPO shares—225,000 units for Nepalese employed abroad, while 67,500 shares were designated for employees and 112,500 shares for collective investment funds. The remaining shares were made available to the general public.

The company had initially planned to allot the IPO on Thursday. However, the process was delayed as the scheduled time for opening the seal of Balefi Hydropower also passed yesterday, leading to the IPO allotment being completed today.

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 NIMB Ace Capital.