Himalayan Reinsurance Extends IPO Deadline || But For How Many Days ?

Himalayan Reinsurance Extends IPO Deadline Amidst Strong Investor Response

Himalayan Reinsurance Limited has decided to extend the deadline for its Initial Public Offering (IPO) shares until the 11th of Poush, 2080. The company initiated the IPO on the 27th of Mangsir, 2080, with the original closing date set for the 1st of Poush. However, due to lower-than-expected subscription rates, the company has granted an extension.

Out of the total 3,00,00,000 units, 10% (30,00,000 units) were allocated to Nepalese Citizens working abroad on the 24th of Mangsir. Additionally, 2% (6,00,000 units) were reserved for the company's employees, and 5% (15,00,000 units) were set aside for mutual funds. The remaining 2,49,00,000 units are available for the general public.

The shares are priced at Rs. 206 per share (Rs 100 face value + Rs 106 premium price) for the general public. Maximum and minimum units that can be applied by demat account holder is 3 lakh units to 10 units . NMB Capital Limited has been appointed as the issue manager to oversee the process.

According to the Central Depository and Clearing Company (CDSC), as of 5 pm yesterday, a total of 1,156,434 applicants have applied for 20,895,760 units, amounting to Rs. 4.3 Arba. This indicates a subscription rate of 83.92%.

ICRA Nepal has given rating to Himalayan Reinsurance Limited is A- (Minus) . This rating reflects an adequate degree of safety regarding the timely servicing of financial obligations, suggesting low credit risk for investors.

Himalayan Reinsurance Limited, established in 2021, is the second reinsurance company in Nepal to issue an IPO. The company specializes in providing reinsurance support to both Life and Non-Life Insurance Companies within Nepal and internationally. Notable promoters include Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, and several other leading business conglomerates and financial institutions.

Investors are encouraged to take advantage of the extended deadline and consider the strong credit rating as they contemplate participation in this significant IPO opportunity.

Keywords : Himalayan Reinsurance Limited, Deadline Extension,11th Poush, 2080, Opening Date: 27th Mangsir, 2080, Early Closing Date: 1st Poush, Allotment to Nepalese Citizens Abroad, Share Price: Rs. 206 per share, Premium Price: Rs. 106, Total Applicants: 1,156,434, Issuer Rating: [ICRANP-IR] A- ,Reinsurance Company

Expand Notice : Himalayan Re-insurance

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