KATHMANDU: The Initial Public Offering (IPO) allotment of Jyoti Life Insurance Company will be concluded next Friday, i.e. March 26.
The company closed its IPO issue to the general public on March 10, 2021. This IPO issue was opened from March 5. The company has a total of 2.2 crore registered shares of which 66 lakh shares have been issued in this IPO. Thus, the IPO will raise a total of Rs. 66 crores in paid-up capital.
According to Jyoti Life, 5% of the issue, i.e. 3,30,000 units were set aside for the employees of the company and another 5% to mutual funds. The remaining 59,40,000 units were purely for individual investors.
NMB Capital was the issue manager for the proposed IPO issue. According to CDSC, 18,04,648 applicants have applied for a total of 3,80,57,710 units. Thus, the issue is oversubscribed by over 6.4 times. This IPO broker all previous records to be the one with the most applications received.