Company Profile:
Guardian Micro Life Insurance Limited (GMLIL) was founded on December 26, 2022, and officially started operating as a micro-life insurance company on July 7, 2023, after receiving its license on April 10, 2023. The company is based in Biratnagar Municipality, Morang, Nepal.
It provides various micro-life
insurance plans, such as term plans, endowment plans, and group plans, through
a wide sales network. By mid-July 2024, the company had a paid-up capital of
Rs. 525 million and total assets worth Rs. 562 million.
About the IPO:
Guardian
Micro Life Insurance Limited is offering its Initial Public Offering (IPO) to
the public from Poush 21, 2081 (today) to Poush 24, 2081. If not fully
subscribed, the application period may extend until Magh 6, 2081.
Out
of the total 22,50,000 shares:
- 2,25,000 shares (10%) were
allocated to Nepalese citizens working abroad.
- 67,500 shares (3%) are reserved
for company employees.
- 1,12,500 shares (5%) are set
aside for mutual funds.
- The remaining 18,45,000 shares
are available to the general public.
Kumari
Capital Limited is managing the IPO. Investors can apply for a minimum of 10
shares and a maximum of 1,000 shares.
|
Particulars |
Percentage |
Units |
Amount |
|
Total Capital |
100% |
75,00,000 |
75,00,00,000 |
|
Total Issue (General
Public) |
30% |
22,50,000 |
22,50,00,000 |
|
Issue Manager |
Kumari Capital Limited |
|
|
|
Issue Open Date |
21st Poush |
|
|
|
Issue Closing Date
(Earliest) |
24th Poush |
|
|
|
Issue Closing Date
(Late) |
6th Magh |
|
|
|
Minimum Application |
10 units |
|
|
|
Maximum Application |
1,00,000 units |
|
|
|
Capital Structure: |
|
|
Authorized Capital |
80,00,00,000 |
|
Issued Capital |
75,00,00,000 |
|
Current Paid-Up
Capital |
52,50,00,000 |
|
Capital after IPO
Issuance |
75,00,00,000 |
|
Shareholding Structure |
||||
|
|
Number of shares |
Amount |
Percentage |
Remarks |
|
Promoters |
52,50,000 |
52,50,00,000 |
70% |
Already issued |
|
General Public |
22,50,000 |
22,50,00,000 |
30% |
To be issued |
|
Total |
75,00,000 |
75,00,00,000 |
100% |
|
|
Board of Directors: |
|
|
Name |
Position |
|
Mr. Udeep Shrestha |
Chairman |
|
Dr. Jay Prakash
Jaiswal |
Director |
|
Mr. Udaya Narayan
Bhattarai |
Director |
|
CA Trishila
Jhunjhunwala |
Director |
|
Pramod Prasad
Bhattarai |
Director |
|
Management Team: |
||
|
S.N. |
Name |
Position |
|
1 |
Chirayu Bhandari |
Chief Executive Officer |
|
2 |
Jyoti Prakash Pandey |
Deputy Chief Executive |
|
3 |
Kailash Devkota |
Chief Manager |
|
4 |
Sunita Koirala |
Chief Manager |
|
5 |
Ram Prasad Poudel |
Company Secretary |
|
6 |
Samir Kharel |
Manager |
|
7 |
Deelip Sharma |
Manager |
|
8 |
Jeevan Rai |
IT- Head |
|
Uses of funds: |
||
|
S.N. |
Particulars |
Amount |
|
1. |
Fixed deposits issued
by banks and financial institutions |
22,30,00,000 |
|
2. |
Branch expansion and
enhancement of physical infrastructure deposit |
20,00,000 |
|
Total |
22,50,00,000 |
|
CARE Ratings:
CARE
Ratings Nepal Limited (CRNL) has given Guardian Micro Life Insurance Limited
(GMLIL) a rating of ‘CARE-NP BB- (Is)’. This means the company faces a moderate
risk of not meeting its financial obligations on time in Nepal.
Key Strengths:
- Experienced board members and management team.
- Moderate reach across Nepal through branches,
sub-branches, and agents.
- Proper reinsurance setup and good investment quality.
Key Weaknesses:
- Small-scale operations with limited history and focus
on micro-term policies.
- Competition from well-established insurance companies.
- Risk of regulatory changes affecting the business.
|
Financial Highlights: |
|||||
|
Financial Highlights |
|||||
|
Particulars |
Actual |
|
Estimated |
||
|
2079/080 |
2080/081 |
2081/082 |
2082/083 |
2083/084 |
|
|
Total Paid-Up Capital ('000) |
5,25,000 |
5,25,000 |
7,50,000 |
7,50,000 |
7,50,000 |
|
Reserve & Surplus ('000) |
1,796 |
3,079 |
9,431 |
19,240 |
30,820 |
|
Net Profit ('000) |
5,26,796 |
5,28,079 |
7,59,461 |
7,69,240 |
7,80,820 |
|
Earnings per share (Rs.) |
0.34 |
0.25 |
0.85 |
1.3 |
1.54 |
|
Net worth per share (Rs.) |
100.34 |
100.59 |
101.26 |
102.57 |
104.11 |
|
Return on Equity (%) |
0.34% |
0.25% |
0.84% |
1.27% |
1.48% |
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