Guardian Micro Life Insurance appointed Nepal SBI Merchant Banking to issue of IPO

KATHMANDU:Guardian Micro Life Insurance Limited plans to issue 22,50,000 unit ordinary shares to the public at Rs 100 each, totaling Rs 22.5 crore. Nepal SBI Merchant Banking Limited has been appointed to provide underwriting services for this issuance.

During a program, Nepal SBI Merchant Banking's Managing Director and CEO, Lekhnath Pokhrel, and Guardian Micro Life Insurance Ltd's CEO, Chirayu Bhandari, inked an agreement to provide the aforementioned shares.

Nepal SBI Merchant Banking Limited is the wholly-owned subsidiary of Nepal SBI Bank Limited.After receiving a license from the Nepal Securities Board, it began offering investment management, securities issuance and sales management, securities purchase guarantee, beneficiary account management, institutional consulting, and share registrar services.