General Insurance Company Nepal issuing IPO share from Ashwin 11

General Insurance Company Nepal IPO Notice

General Insurance Company Nepal Limited will be issuing 30,00,000 units worth Rs 30 crore as Initial Public Offering to the general public from (Ashwin 11-14, 2077). The early closing date of this issue is on Asoj 14 and  If no application is received for all the shares within that period, the issuance period will be extended till Asoj 18.

The company has 30% or 30,000,000 IPO shares at Rs. The general public will be evicted at the rate of Rs. Out of which 4% or 120,000 shares have been distributed to the employees and 5% or 150,000 shares to the collective investment funds and the remaining 27,30,000 shares have been released to the public.

Interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.

NIBL Ace Capital Limited has been appointed as the issuer and sales manager of the IPO.

Care Ratings Nepal Limited has assigned the „CARE-NP BB+ (Is)‟ rating to General  Insurance  Company  Nepal  Limited  (GIC). Issuers with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations, in Nepal.