IPO for General Public: Nepal Micro Insurance to Issue 18,45,000 Lakh IPO Shares from Falgun 11

Nepal Micro Insurance Limited will issue 18,45,000 unit IPO shares at a par value of Rs. 100 from 11th Falgun, 2081. The early closing date of this issue is on the 15th Falgun, 2081 and if the issue is not fully subscribed, it can be extended up to the 15th Falgun, 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 11th Falgun, 2081.

NIMB Ace 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 Limited (CRNL) has assigned Nepal Micro Insurance Company Limited an issuer rating of ‘CARE-NP BB—(Is)’. This rating indicates a moderate risk of default in meeting financial obligations on time within Nepal.

Nepal Micro Insurance Company Limited (NMIC) is a public limited company established on December 23, 2022. It operates as a Micro Non-Life Insurance Company, having received its license on April 10, 2023, under the Insurance Act 2079. NMIC began its business operations on May 14, 2023. The company's registered office is in Bharatpur-1, Chitwan, with a provincial office in Gairidhara, Kathmandu. As of July 16, 2024, NMIC offers various micro non-life insurance products, including motor, property, burglary, and accident insurance. The company had a paid-up capital of Rs. 525 million and an asset base of Rs. 636 million by mid-July 2024.

Offer Letter: