Prabhu Mahalaxmi Life Insurance Reveals Major Shareholders, Approves Annual Report

Kathmandu — Prabhu Mahalaxmi Life Insurance Limited has successfully concluded its eighth annual general meeting, during which shareholders approved the company’s annual report for the previous fiscal year and passed several important resolutions.

The annual report revealed that some of Nepal’s leading financial institutions are among the company’s major shareholders. Nepal Investment Mega Bank Limited holds the largest stake in the company, with 6.98 percent ownership, amounting to 3.3 million shares. Jyoti Bikas Bank follows closely, with a 6.69 percent stake or 3,161,235 shares.

Prabhu Bank Limited owns 5.11 percent of the shares, equivalent to 2,415,600 shares, while Shangrila Development Bank holds 4.54 percent, translating to 2,146,864.50 shares. NMB Bank owns 1.75 percent, or 825,000 shares.

Other institutional investors include Excel Development Bank, which holds 2.79 percent, Prabhu Capital, with 1.33 percent shares.