Crest Micro Insurance IPO Allotment Concluded Today

Kathmandu – The initial public offering (IPO) of Crest Micro Life Insurance’s has been allotted today. The allotment process was completed at the office of NIMB ACE Capital Limited at 8:30 am today, the issue manager for the company.

Following the distribution, 184,500 applicants will receive the shares at the rate of 10 each, while remaining applicants were left empty-handed.

Earlier, Crest Micro Life Insurance had obtained approval to issue 2.25 million IPO shares worth NPR 225 million, representing 30% of its issued capital of NPR 750 million. In the first phase, the company issued 10% (225,000 shares) to Nepali workers. Additionally, 5% (112,500 shares) were allocated for a collective investment fund, and 3% (67,500 shares) were set aside for employees. The remaining shares were offered to the general public.

The IPO results can be accessed via CDSC’s website at iporesult.cdsc.com.np, the “Mero Share” platform, or the website of NIMB ACE Capital.