Crest Micro Life Insurance Limited is concluding the offering of 18,45,000 units of IPO shares at a nominal value of Rs 100 from today, the 26th Falgun, 2081. The offering opened its doors to the public on the 22nd Falgun, 2081.
From the total of 22,50,000 units, 10% or 2,25,000 units have already been allotted to Nepalese citizens working overseas, while 3% or 67,500 units have been reserved for the company’s employees, and 5% of the total shares offered, which is 1,12,500 units, has been designated for mutual funds. The remaining 18,45,000 units are now available for public acquisition.
NIMB Ace Capital Limited has been designated as the issue manager. Investors can submit applications for a minimum of 10 units and a maximum of 10,000 units.
According to CDSC, 15,90,594 applicants have submitted requests for 1,92,57,110 units amounting to Rs. 1.92 Arba. Therefore, the offering has already been oversubscribed by 10.43 times.
