KATHMANDU: Crest Micro Life Insurance’s IPO is scheduled to be allotted on Tuesday, March 17. The company has been selling the IPO since March 6. The company has issued the IPO for general investors.
The allotment of the IPO shares will be held at the office of NIMB S Capital, the issue and sale manager, at 8:30 am.
Till the last day of the IPO, 20 lakh 48 thousand 538 applicants have applied for 2 crore 44 lakh 92 thousand 170 shares.
Due to the oversubscription, this IPO will also be allotted through a lottery. In which 1 lakh 84 thousand 500 lucky people will get shares at the rate of 10 shares.
The company had received permission to issue 22 lakh 50 thousand shares worth Rs 225 million, which is 30 percent of its issued capital of Rs 750 million. Out of this, 10 percent has already issued and distributed 225,000 units worth Rs. 22.5 million to Nepalese working abroad.
Similarly, 67,500 units have been distributed to the company’s employees and 112,500 units of ordinary shares have been distributed to collective investment funds. The company has now issued 1845,000 units of ordinary shares worth Rs. 1845,000 to the general public in the second phase.
