KATHMANDU, Feb. 25 -- Nepal Micro Insurance Company Limited (NMIC) is currently opening its IPO to the general public from Sunday. The company has received 6.82 times more applications than the demand.

The company's IPO has received applications for 12.596 shares worth Rs 1.259 billion by the second day. According to CDS and Clearing Limited, 965,221 individuals have applied till 5 pm on Monday.

The company issued the IPO to the general public after issuing and distributing shares to Nepali citizens working abroad, company employees and mutual investment funds.

The company had received approval from the Securities and Exchange Board of Nepal (SEBON) to issue 2.25 million shares worth Rs 225, equivalent to 30 percent of its issued capi...