Mar 08, Kathmandu- In the IPO of Crest Micro Life Insurance Limited, 1 billion 20 million 54 lakh 45 thousand rupees have been collected.

According to CDS, 973 thousand 182 people have applied for 1 crore 254 thousand 450 shares till the evening of 23rd of February. Which is 6.53 times more applications than demand.

The company has opened the IPO to the general public. The Nepal Securities Board had permitted the company to issue a total of 2.25 million IPO units at Rs 100 per unit.

Out of this, 225,000 units have been allocated to Nepalese working abroad, 67,500 units to company employees and 112,500 units to collective investment funds.

Applications can be submitted for the IPO, which is open to the general public, until Falgun 26. The minimum IPO amount is 10 units and the maximum is 10,000 units. NIMB Ace Capital Limited is the company's share issuance and sale manager.