Protective Micro Insurance Limited has announced its decision to issue 2,250,000 ordinary shares to the general public. Each share will be offered at NPR 100, with the total call amount summing up to NPR 22.50 Crore. The issuance is part of the company’s effort to raise capital and expand its business operations.
To facilitate the process, Nepal SBI Merchant Banking Limited and Nabil Investment Banking Limited have been appointed as underwriters. The agreement was signed by key representatives, including Mr. Lekhnath Pokhel, Managing Director and CEO of Nepal SBI Merchant Banking, Mr. Manish Narayan Joshi, CEO of Nabil Investment Banking, and Mr. Naresh Kumar Roka, CEO of Protective Micro Insurance.
Nepal SBI Merchant Banking Limited, a subsidiary of Nepal SBI Bank Limited, provides a range of investment and securities services. Meanwhile, Protective Micro Insurance Limited, headquartered in Dhangadhi, is a licensed provider of motor, health, and non-life insurance services, with a broad network of branches and offices across the country.
This share offering will help Protective Micro Insurance expand its operations, contributing to the growth of the insurance sector in Nepal.