Himalayan Reinsurance Limited IPO Open today

Himalayan Reinsurance Limited IPO opens for Nepalese citizens working abroad today. Applicant put their application now.

The company will issue 3,000,000 unit shares to Nepalese citizens working abroad, starting from the 4th of Mangsir and closing on the 18th of Mangsir, 2080. The initial opening period was scheduled to run from the 21st of Kartik to the 5th of Mangsir. However, the dates have been rescheduled to the 4th to the 18th of Mangsir, 2080 due to the upcoming Tihar festival holiday next week.

The issued capital of the company is Rs. 10 Arba of which 30% i.e. 3,00,00,000 unit shares will be issued to the public (Nepalese citizens working abroad and the general public). Out of this total issue, 10% i.e. 30,00,000 unit shares have been allocated for Nepalese citizens working abroad, the issue of which opens today.

How to apply for Himalayan Reinsurance Limited IPO from mero share CDSC ?

Himalayan Reinsurance Limited IPO

Are you looking to for apply Himalayan Reinsurance Limited IPO? If yes, you will know here how to apply IPO from Mero Share CDSC Com NP. It is only one getaway to apply IPO and It is very easy to apply IPO in Nepal. When any company opens an IPO for the foreign or general Public, then you need to follow the following steps to apply IPO. You can also apply IPO from IPO Result – Nepali Mero Share app or IPO Result Check Pro app

Step 1: Go to the website portal (mero share com np)

Step 2: Log in with your Depository Participants, Username, and Password, and click on login

Step 3: Click on My ASBA

Step 4: Click on Apply for Issue or see on IPO opening notice on Apply for Issue

Step 5: Click on Apply bottom in the right side

Step 6: Fill Required information (Bank, Applied Kitta, CRN, and confirmation box)

Step 7: Please enter your 4 digits transaction PIN to proceed

Step 8: Click on Apply bottom.

Whereas 2% of the total offered shares i.e. 600,000 units have been set aside for the employees of the company and 5% or 15,00,000 units have been set aside for the mutual funds. The remaining 2,49,00,000 units will be issued later to the general public.

The shares will be issued for Rs. 206 per share (Rs 100 face value + Rs 106 premium price) to the general public.

The current paid-up capital of the company is Rs. 7 Arba. The issue will raise Rs. 6.18 arba for the company since each share will be issued at a premium price of Rs. 206 per share.

NMB Capital Limited has been appointed as the issue manager. Applications can be placed for a minimum of 10 units and a maximum of 300,000 units.

This is the second reinsurance company to issue an IPO. Himalayan Reinsurance, a pioneering private-sector reinsurance company in Nepal, specializes in offering reinsurance support to both Life and Non-Life Insurance Companies within Nepal and on an international scale. The company was granted its operational license in 2021.

The prominent promoters of Himalayan Reinsurance consist of leading business conglomerates in Nepal and significant financial institutions. Some of the noteworthy promoters include Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles.

In addition to these prominent business houses, the list of promoters encompasses two of Nepal’s topmost commercial banks, primarily owned by the Government of Nepal. These banks are Nepal Bank Limited and Rastriya Banijya Bank Limited.

ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- (pronounced ICRA NP Issuer Rating A Minus) to Himalayan Reinsurance Limited, indicating an adequate degree of safety regarding the timely servicing of financial obligations. Such issuers carry low credit risk.

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