Protective Micro Insurance is set to issue an IPO worth Rs 225 million.
A 225 million rupee initial public offering (IPO) is planned by Protective Micro Insurance. The procedure of issuing 22 lakh fifty thousand common shares at a price of Rs 100 per share has been initiated by the firm. For the purchase guarantee service of common shares, the company has selected Nabil Investment Banking Limited and Nepal SBI Merchant Banking.
A tripartite agreement regarding providing the share guarantee was signed on Monday during a program by Managing Director and Chief Executive Officer Lekhnath Pokhrel on behalf of Nepal SBI Merchant Banking, Chief Executive Officer Manish Narayan Joshi on behalf of Nabil Investment Banking, and Chief Executive Officer Naresh Kumar Roka on behalf of Protective Micro Insurance.
The headquarters of Protective Micro Insurance are located in Dhangadhi, in the Sudurpaschim province's Kailali district. After receiving a license from the Nepal Insurance Authority on June 28, 2079, in compliance with the Insurance Act of 2079 and the Insurance Regulations of 2049, the establishment began operations on June 31, 2080.
The business offers services for property insurance, health insurance, auto insurance, house (accommodation) insurance, and other insurances. Insurance is offered nationwide through its three branches, eleven subbranches, and fourteen extended branch offices, including the provincial office located in Lalitpur, Gusingal.
In compliance with the Companies Act of 2063, Protective Micro Insurance was legally registered on the 12th of Paush 2079 at the office of the Registrar of Companies.
