Jyoti Life Insurance to issue IPO from Friday
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KATHMANDU: Jyoti Life Insurance Company Ltd. has rescheduled the date of issuing public initial offerings (IPO) for Friday. Earlier, it had planned to issue primary shares on March 7.
According to the company, it will issue 6,600,000 units of shares worth Rs 660,000,000.
Of the total IPOs issued, 333,000 (5%) units of shares have been allotted for staffers of the company and the same amount of shares (5%) have been put aside for collective investment fund.
People in general can subscribe for 5,940,000 units of shares. The applicants can apply for minimum 10 units of shares to maximum 66,000 units of shares from March 12 to March 21.
Currently, the company has Rs 1,540,000,000 as the paid-up capital. With the allotment of the IPO, its paid-up capital will reach Rs 2,200,000,000.
NMB Capital Limited is the issue manager.