Star Micro Insurance appoints NIMB Ace Capital for IPO management

KATHMANDU: Star Micro Insurance Company has engaged NIMB Ace Capital as the issue and sales manager for its forthcoming Initial Public Offering (IPO). 

The agreement, executed on 25 August 2024, received official endorsement from Bishwo Ram Timila, CEO of Star Micro Insurance Company, and Sachindra Dhungana, General Manager of NIMB Ace Capital.

The IPO will comprise 2.25 million ordinary shares, each priced at Rs 100, resulting in a total value of Rs 225 million. This amount represents 30% of the company’s issued capital. 

Star Micro Insurance Company, registered on December 29, 2022, and granted its non-life micro-insurance licence on August 18, 2023, has been providing non-life micro-insurance services across various regions of the country.