IPO for General Public: Guardian Micro Life Insurance to Issue 18,45,000 Lakh IPO Shares from Poush 21

Guardian Micro Life Insurance Limited will issue 18,45,000 unit IPO shares at a par value of Rs. 100 from 21st Poush, 2081. The early closing date of this issue is on the 24th of Poush and if the issue is not fully subscribed, it can be extended up to the 6th of Magh, 2081.

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 employees of the company and 5% of the total offered shares i.e. 1,12,500 units have been set aside for the mutual funds. The remaining 18,45,000 units are for the general public, the issue of which will open from 21st Poush, 2081.

Kumari Capital Limited is appointed as the issue manager. Applications can be placed for a minimum of 10 units and a maximum of 1,00,000 units.

CARE Ratings Nepal has assigned the company a 'CARE NP Double B Minus Issuer Rating,' indicating moderate risk in the company's ability to meet its obligations.

Guardian Micro Life Insurance Limited (GMLIL), established on December 26, 2022, began operations as a Micro Life Insurance Company on July 7, 2023, following its license approval on April 10, 2023, under the Insurance Act 2079. Headquartered in Biratnagar Municipality, Morang, Nepal, GMLIL offers diverse micro-life insurance products, including term plans, endowment plans, and group plans, through an extensive sales network. As of mid-July 2024, the company reported a paid-up capital of Rs. 525 million and total assets amounting to Rs. 562 million.

Offer Letter: