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Crest Micro Life Insurance IPO Sees Massive Demand, Oversubscribed 10.43 Times
March 09, 2025
The Initial Public Offering (IPO) of Crest Micro Life Insurance Limited (CMLI) has been oversubscribed by 10.43 times. As of Sunday, the company had received 1,590,594 applications for its IPO.
The insurance company opened its IPO issuance for the general public on Thursday. According to CDS and Clearing Limited, by Sunday at 5:07 PM, applications had been submitted for a total of 19,257,110 shares, far exceeding the available allotment. The total demand for shares in monetary value has reached NPR 19.25 billion.
IPO Details and Subscription Figures
Crest Micro Life Insurance issued 1.845 million shares worth NPR 184.5 million for public subscription. The IPO subscription remains open until Falgun 26 (March 10, 2025), allowing interested investors to apply before the deadline.
Investors can apply for a minimum of 10 shares at the face value of NPR 100 per share. The maximum application limit is set at 10,000 shares per applicant.
Given the significant oversubscription, the chances of allotment for applicants will be determined by a lucky draw as per the standard IPO distribution process in Nepal.
