Jyoti Life’s IPO will be distributed on Friday

Kathmandu, March 24

The IPO of Jyoti Life Insurance is scheduled to take place on Chaitra 13. The IPO distribution will be held at the office of sales manager NMB Capital, Nagpokhari, Kathmandu.

Capital has informed that the date of distribution has been fixed but the time has not been fixed. The company’s IPO is expected to be won by 594,000 people at the rate of 10 lots.

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 shares at the rate of 5 percent have 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 will not get the IPO of this company which has received 6.56 times more applications than the demand.

The prescribed paid-up capital of life insurance companies is Rs. 2 billion. So, inorder to maintain the prescribed amount the company has issued an IPO to the public. Currently, 70 percent of the paid-up capital of the company is Rs. 1 arba 54 lakh  after the IPO allotment. 2 billion 200 million.

The company’s net profit for the period was Rs. 28 crore 64 lakh 1 thousand. For the first transaction in the secondary market, Nepse will set a price of up to three times the net worth per share. It seems the company’s share will get a price range from 132.94 to 398.82.