Crest Micro Life IPO Open for Nepali Workers Abroad

Crest Micro Life Insurance Limited has opened its Initial Public Offering (IPO) for Nepali citizens working abroad starting from January 29, 2025 (Magh 15, 2080). The company has allocated a total of 10% of its shares, equivalent to 225,000 units, for Nepalis employed overseas. Interested applicants can apply for a minimum of 10 shares and a maximum of 10,000 shares. The application deadline is February 11, 2025 (Magh 29, 2080).

The company received approval from the Nepal Securities Board to issue a total of 2,250,000 shares at a face value of NPR 100 per share. The IPO has been rated "ICRA NP Issuer Double B Rating" by ICRA Nepal, indicating moderate risk in the company's ability to meet its liabilities. NIMB Ace Capital is managing the IPO issuance. Nepalis working abroad can apply for the shares through C-ASBA-approved banks and financial institutions or via the Mero Share platform. Crest Micro Life Insurance, which has been expanding its insurance services, received its insurance license on April 10, 2023 (Chaitra 28, 2079) and was established as a public limited company on May 24, 2023 (Jestha 10, 2080).