Jyoti Life Insurance ipo

The issuance date of the initial public offering (IPO) of Jyoti Life Insurance has been changed. The IPO of the company has been postponed by two dates and the issuance will take place from Friday, March 6.

At the request of CDS & Clearing, the issue of shares of the company has been postponed. CDS had requested to postpone the issue of shares saying that there could be pressure during the trading session.

NMB Capital, the company’s share issue and sale manager, said it would publish the information on Wednesday.

Earlier, the company had stated that the IPO would be issued to the public from March 8. The company is about to issue 6.6 million IPOs worth Rs 660 million. Investors will be able to apply for a minimum of 10 lots to 66,000 lots.

Out of the total 6.6 million shares to be issued, the insurance company has secured 5 percent or 333,000 shares to employees and another 5 percent to collective investment funds.

The general public will be able to apply for the remaining 5.94 million shares. The company is going to issue 30 percent of the total issued capital.

The IPO issue and sale manager is NMB Capital Limited. Interested applicants can apply through C-ASWA member banks and financial institutions and Meroshare.

CARE RATING NEPAL has given CARE NP Triple B Issuer rating to Insurance in its credit rating for IPO issuance. This indicates that it is moderately safe to meet financial obligations on time.

At present, the paid-up capital of the insurance company is Rs 1.54 billion. After the IPO allotment, the paid-up capital of the insurance company will reach Rs 2.20 billion

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