Crest Micro Life Insurance Completes IPO Allotment for Foreign Employment Workers

Crest Micro Life Insurance Limited (CMLI) has successfully completed the allotment of its Initial Public Offering (IPO) shares reserved for Nepali citizens employed abroad. This marks a significant milestone in the company’s efforts to expand financial inclusion and provide investment opportunities to the Nepali diaspora.

IPO Subscription and Allotment Process

CMLI opened its IPO for foreign employment workers from January 28 to February 11, 2025, with a total of 225,000 shares (10% of the total public issue) allocated for this category. The overwhelming response from applicants reflected strong investor confidence in the company’s growth potential and stability.

Following the closure of the subscription period, NIMB Ace Capital Limited, the issue manager for the IPO, conducted the allotment process as per the regulatory guidelines of the Nepal Insurance Board and Securities Board of Nepal (SEBON).

Crest Micro Life Insurance IPO Allotment Results and Investor Updates

• Total Applied Shares: Reports indicate that the IPO segment for foreign employment workers was oversubscribed, demonstrating high demand from Nepalis working abroad.
• Allotment Completion Date: The shares have been allocated based on a lottery system, ensuring a fair distribution among applicants.
• Crediting of Shares: The allotted shares have already been credited to the respective investors’ Demat accounts, and they can now verify their holdings through Mero Share or their respective depository participants (DPs).
• Refunds for Unsuccessful Applicants: Investors who did not receive an allotment will get their refunds processed within the next few days.

Market Expectations and Future Plans for Crest Micro Life Insurance IPO

With the successful IPO allotment, Crest Micro Life Insurance Limited is now preparing for the listing of its shares on the Nepal Stock Exchange (NEPSE). The company aims to strengthen its presence in the micro-life insurance sector, providing affordable and accessible insurance products to marginalized and underserved communities across Nepal.

How to Check IPO Allotment Status?

Investors who applied for the IPO can check their allotment status through the following platforms:

1. Mero Share Portal (https://meroshare.cdsc.com.np/)
2. Issue Manager Website (https://nimbacecapital.com/)
3. CMLI’s Official Website (https://cmli.com.np/)

For further assistance, investors can contact their respective brokerage firms or banks managing their IPO applications.

Conclusion

The IPO allotment for foreign employment workers marks a successful phase for Crest Micro Life Insurance Limited, reinforcing its commitment to financial inclusion. With a strong investor base and strategic growth plans, the company is poised to contribute significantly to Nepal’s insurance sector. Investors are now looking forward to the official listing of CMLI shares on NEPSE, which is expected to bring further trading opportunities and growth prospects.

For more updates on stock market developments, stay tuned to the news section at Nepalese in UAE.

Please feel free to reach us if you need any further information related to IPO, including how you can start applying for IPO in Nepal from the UAE.