NEPSE listed IPO of Jyoti Life; trading from Wednesday

Kathmandu, April 6

The IPO of Jyoti Life Insurance Company is listed on the Nepal Stock Exchange (NEPSE) on Tuesday. The company’s 2 crore 20 lakh IPO has listed today.

As it is listed, the company’s shares will be traded in the secondary market from Wednesday i.e. tomorrow. For the first trade, Nepse has opened range from Rs. 120.29 to Rs. 360.87. Nepse specifies an open range of up to three times the net worth for the first trade.

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.