Jyoti Insurance closed IPO with oversubscribed over 6.4 times

Kathmandu, March 11

Jyoti Life Insurance Company Limited has closed its IPO issue to the general public on Falgun 26.

The company’s IPO was opened from Falgun 21, where the issue is oversubscribed by over 6.4 times till the conclusion date. 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. 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 for the general public.

According to CDSC, 18,04,648 applicants have applied for a total of 3,80,57,710 units, which is the data as of 5 pm after the issue concluded.

NMB Capital was the issue manager for the proposed IPO issue.