We have information on the Opening Range of Guardian Micro Life Insurance Company.
Opening Range of Guardian Micro Life Insurance Company
Following are the Opening Range of Guardian Micro Life Insurance Company.
About Company
Guardian Micro Life Insurance Limited (GMLIL) was established on December 26, 2022. The operation of the company stated on July 7, 2023, following its license approval on April 10, 2023. The head office of the company is located at Biratnagar Municipality, Morang, Nepal. The Guardian Micro Life Insurance offers diverse micro-life insurance products, including term plans, endowment plans, and group plans, through an extensive sales network.
Opening Range
The opening range of the company depends upon the book value of the latest audited financial statement. So, the opening range is calculated by multiplying the book value 3 times. Book Value of the Guardian Micro Life Insurance is Rs. 100.34.
Hence, the opening range of the Guardian Micro Life Insurance is Rs. 100.34 to Rs. 301.02.
Read More: Opening Range of Nepal Micro Insurance Company.
Projected EPS and Book Value
Following are the projected value of EPS and Book Value of Guardian Micro Life Insurance.
| Particulars | 2080/81 | 2081/82 | 2082/83 |
|---|---|---|---|
| Earning Per Share (EPS | Rs. 0.25 | Rs. 0.85 | Rs. 1.30 |
| Book Value | Rs. 100.59 | Rs. 101.26 | Rs. 102.57 |
IPO Information of Guardian Micro Life Insurance
Following are the important information of Guardian Micro Life Insurance.
| Particulars | Information |
|---|---|
| No of Units Issuing for Genera Public | 18,45,000 units |
| Issue Price | Rs. 100 |
| Issue Manager | Kumari Ace Capital Limited. |
| Issue Open Date | 21st Poush |
| Issue Closing Date (Earliest) | 24th Poush |
| Issue Closing Date (Late) | 6th Magh |
| Minimum Application | 10 units |
| Maximum Application | 1,00,000 units |
The company is issuing 22,50,000 units. Out of the total 22,50,000 units; 10% i.e. 2,25,000 units have already been issued to Nepalese citizens working abroad, whereas 3% i.e. 67,500 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 1,12,500 units have been set aside for the mutual funds. The remaining 18,45,000 units are for the general public.
Capital Structure
| Pariculars | Number of Share |
|---|---|
| Authorized Capital | Rs. 8,000,000,000 |
| Issued Capital | Rs. 7,500,000,000 |
| Current Paid-Up Capital | Rs. 5,250,000,000 |
| Capital after IPO Issuance | Rs. 7,500,000,000 |
Uses of Funds
Guardian Micro Life Insurance will use the funds from IPO for following activities:
- Fixed deposits issued by banks and financial institutions.
- Branch expansion and enhancement of physical infrastructure deposit.
CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB- (Is)’ to Guardian Micro Life Insurance
Hence, these are the Opening Range of Guardian Micro Life Insurance Company.
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