Jyoti Life Insurance’s distributed IPO; How to see the result?
Kathmandu, March 26
The IPO of Jyoti Life Insurance Company Limited has been allotted on Friday. The IPO allotment of the company was held during a program organized at Jyoti Life Insurance, Gyaneshwar-based office in Kathmandu at 12:30 pm.
The company has issued IPO to the public from Falgun 21 to Falgun 26. Out of the total 66 lakh shares allotted to the public by the company, only 59 lakh 40 thousand shares have been issued to the public. Out of the total, 333,000 at the rate of 5 percent has been reserved for the employees of the company and 5 percent for the collective investment fund.
CDS and Clearing Limited has informed that 18 lakh 32 thousand 958 people have applied for the IPO of the company till 5 pm on the last day. A total of 3 crore 89 lakh 96 thousand 550 shares have been demanded from these applicants. More than 12 lakh investors does not get the IPO of this company which has received 6.56 times more applications than the demand. In this IPO, 594,000 applicants have received 594,000 shares at the rate of 10 lots.
The IPO final results can be viewed on the CDSC website (https://iporesult.cdsc.com.np/) and also can be viewed from securities sales managers NMB Capital and Jyoti Life insurance website.
The company has stated that it may take 3-4 hours for the final result to come.