Prabhu Mahalaxmi Life Insurance has opened the sale of 18 lakh 99 thousand 241 units of promoter shares to the general public. This decision comes after the existing promoter shareholders did not show interest in purchasing the offered shares within the previously allocated timeframe.
Earlier, the insurance company had published a 35-day public notice, offering these promoter shares first to its current founders. Since no applications were received from the existing promoters during those 35 days, the company decided to open the sale to individual and institutional investors from the general public.
Snow Rivers Limited IPO Listed on NEPSE
Application Procedure and Venue
Interested members of the general public who wish to buy these promoter shares can submit their applications within seven days. Applicants must visit the head office of Prabhu Mahalaxmi Life Insurance located in Kamaladi, Kathmandu, to submit their bids.
Investors are required to bring all necessary documents along with their application forms to the central office to complete the purchase process within the seven-day deadline.