IPO Shares of Himalayan Reinsurance Listed In NEPSE; What is the Opening Range?

Sun, Jan 7, 2024 1:11 PM on IPO/FPO Result News, Share Listed, Latest,

10 crore unit IPO shares of Himalayan Reinsurance Limited have been listed in NEPSE. This includes the shares held by promoters and the quantity issued to the general public.

The opening range for the first transaction is Rs. Rs. 103.07 to Rs. 309.21. The IPO shares will be traded in the secondary market the next day if the company signs an agreement with NEPSE.

Out of a total of 10,00,00,000 unit shares, 2,49,00,000 unit IPO shares were issued to the general public at a premium price of Rs 206 from 27th Mangsir to 2nd Poush, 2080.

Note that the listed shares will traded under the symbol 'HRL'.

Himalayan Reinsurance is the second reinsurance company to issue an Initial Public Offering (IPO), with Nepal Reinsurance Company Limited (NRIC) being the first.

Himalayan Reinsurance, a pioneering private-sector reinsurance company in Nepal, specializes in offering reinsurance support to both Life and Non-Life Insurance Companies within Nepal and on an international scale. The company was granted its operational license in 2021.

The prominent promoters of Himalayan Reinsurance consist of leading business conglomerates in Nepal and significant financial institutions. Some of the noteworthy promoters include Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles.

In addition to these prominent business houses, the list of promoters encompasses two of Nepal's topmost commercial banks, primarily owned by the Government of Nepal. These banks are Nepal Bank Limited and Rastriya Banijya Bank Limited.