Prabhu Mahalaxmi Life (PMLI) Opens Auction for 18.99 Lakh Units Promoter Shares

Prabhu Mahalaxmi Life Insurance Company Limited (PMLI) has officially opened an auction for a massive block of 18,99,241 units of promoter shares. In a move that expands traditional ownership boundaries, the company has made the bidding process accessible to individual retail investors, private companies, and institutional entities, rather than restricting it solely to existing inner-circle promoters. The bidding timeline follows a rapid framework. Bidding formally commenced today, Ashad 12, 2083, and prospective buyers have a 7-day window to formulate their financial proposals, establishing the final closing deadline on Ashad 18, 2083. All sealed bid documents must be registered directly at the company's central office situated in Kamaladi, Kathmandu. This liquidating block represents a strategic allocation within the insurer's total Paid-Up Capital of रू 5.30 arba. Financial experts note that the public auctioning of over 1.89 million units provides secondary market participants a rare entry into the life insurance company's core equity setup.