Investment Opportunity Unveiled: Himalayan Reinsurance Limited's IPO Launch!
Excitement looms as Himalayan Reinsurance Limited announces the release of 2,49,00,000 IPO shares starting from the 27th of Mangsir, 2080. This offering presents a unique chance for investors to dive into a promising venture. The early closing date for this much-anticipated event is set for the 1st Poush, with the potential for extension up to the 11th Poush, 2080, if the issue is not fully subscribed.opportunity
Breaking down the offering, out of a total of 3,00,00,000 units, a percentage has been allocated strategically. 10% (30,00,000 units) caters to Nepalese Citizens working abroad, fostering inclusion among diverse investor profiles. Additionally, 2% (6,00,000 units) is reserved for the dedicated employees of the company, recognizing their commitment and contribution. A further 5% (15,00,000 units) is set aside for mutual funds, emphasizing a balanced distribution strategy. The lion's share of 2,49,00,000 units remains available for the general public, igniting widespread interest and accessibility to potential stakeholders.
Mark your calendars—the shares are priced at an attractive Rs. 206 per share (comprising a face value of Rs. 100 and a premium price of Rs. 106) for the general public. This competitive pricing opens doors for diverse investors seeking a valuable opportunity.
NMB Capital Limited assumes the pivotal role of the issue manager, ensuring a seamless and efficient process. The application window welcomes bids for a minimum of 10 units and extends up to a maximum of 3,00,000 units, accommodating varying investor capacities.
Adding to the confidence in this offering, ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- (pronounced ICRA NP Issuer Rating A Minus) to Himalayan Reinsurance Limited. This rating underlines an adequate degree of safety concerning financial obligations' timely servicing, signaling a venture with low credit risk.
The curtain rises on a promising investment opportunity with Himalayan Reinsurance Limited's IPO. Stay tuned and gear up to be part of this journey towards financial growth and security!
Himalayan Re-insurance Limited, the second reinsurance company in Nepal to launch an IPO, is a trailblazing private-sector entity specializing in providing reinsurance support to both Life and Non-Life Insurance Companies within Nepal and internationally. Established in 2021, the company's notable promoters include prominent business conglomerates like Golchha Group, Shanker Group, Infinity Holdings, and various financial institutions such as Lucky Group, Ramesh Corp, and others, showcasing a diverse and influential support base.
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