IPO Allotment of Crest Micro Life Insurance To Be Concluded on Tuesday; Lucky 1,84,500 Applicants Will Get 10 Units Each
Mon, Mar 17, 2025 10:12 AM on IPO/FPO News, IPO/FPO Result News, Highlight News,

The IPO allotment of Crest Micro Life Insurance Limited will take place this Tuesday, i.e., on 5th Chaitra, 2081, at 8:30 am. The allotment program will be held at the premises of the issue manager NIMB Ace Capital Limited, Lazimpat.
Out of the total 22,50,000 units, 10%, i.e. 2,25,000 units, have already been issued to Nepalese citizens working abroad, whereas 3%, i.e. 67,500 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e. 1,12,500 units, have been set aside for mutual funds. The remaining 18,45,000 units were issued to the general public at a par value of Rs. 100.
According to CDSC, 20,50,633 applicants applied for 2,45,14,280 units worth Rs. 2.45 Arba as of the closing day.
Looking at the data, it is apparent that only 1,84,500 lucky applicants will get ownership of the company.
ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating double B) to Crest Micro Life Insurance Limited (Crest or the company), signifying a moderate risk of default in the timely servicing of financial obligations. This rating reflects an opinion on the general creditworthiness of the rated entity and is not tied to any specific debt instrument.
Crest Micro Life Insurance Company Limited is a public limited company licensed by the Insurance Board in April 2023 and has been operational since then. The company's head office is in Surkhet, while its registered office is in Sanepa, Lalitpur. As of mid-July 2024, Crest has a paid-up capital of NPR 525 million, with significant shareholding from Himalayan Reinsurance Limited (21.43%), Metro Capital Pvt. Ltd. (16.62%), Mr. Kishan Lal Dugar (6.67%), K.R.S Investment Pvt. Ltd. (6.67%), Ms. Sangeeta Devi More (3.97%), and Mr. Anupam Rathi (3.33%), among others. The company is preparing to float an IPO for the general public soon.