IME Life Insurance Company’s IPO opens at Rs 236.91

KATHMANDU: The IME Life Insurance Company has commenced the initial public offering (IPO) for general public applications. The company is offering a total of 9.6 million shares to the public.

The IPO began at a price of Rs 236.91 per share, with a premium of Rs 136.91 added to the face value of Rs 100 per share. The minimum application amount for the general public is 10 shares, while the maximum is set at 10,000 shares, as stated in a public notice by the sales manager, Civil Capital Market.

Interested individuals can submit their applications through any branch of their respective bank or by using the online platform Meroshare. The deadline for submitting IPO applications is June 25th.

According to available information on the company’s performance, the net worth per share is Rs 145. The prospectus reveals that the earnings per share amounted to Rs 9.21, with an accumulated profit of Rs 1.26 billion up to the specified period.

Care Nepal has assigned a ‘BBB’ rating to IME Life Insurance Company, indicating that the company has demonstrated reliability in meeting its obligations and possesses a moderate level of safety. Care Nepal assigns ‘AAA’ ratings to top-performing companies and ‘D’ ratings to the weakest ones.