Nepal Re-Insurance Company issuing 1.6 crore unit IPO shares to general public from Chaitra 4; can apply minimum 10 units
Fri, Mar 6, 2020 7:04 AM on IPO/FPO News, Latest,
Nepal Re-Insurance Company Limited will be issuing 1,60,00,000 units worth Rs 1.6 arba as Initial Public Offering for the general public from Chaitra 4, 2076. The early closing date of this issue is on Chaitra 7 and if the issue is not fully subscribed till Chaitra 7, then it can be extended upto Chaitra 18, 2076.
Out of the offered 1,60,00,000 units; 73,500 units have been set-aside for the employees of the company and 5% of total offered share to general public i.e. 80,000 units have been set-aside for the mutual funds. The remaining 1,51,26,500 units are for the general public.
Applications can be place for minimum 10 units and maximum 10,000 units.
RBB Merchant Banking Limited has been appointed as the issue manager for the IPO issuance.
ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 2 to the Rs.1.60 Arba Initial Public Offer of Nepal Re-Insurance Company Limited. Instruments with this grading are considered to have above-average fundamentals. The approved units is 16% of the total paid up capital of the company.
