Ajod Insurance to issue IPO from July 9

Jul 01, 2020 08:37 AM Merolagani

Ajod Insurance is set to issue initial public offering from July 9. The company is issuing 30,00,000 units of ordinary shares worth Rs 300 million to the general public.

Out of the offered shares, the company has allotted  4 percent i.e. 120,000 units to the employees and 5% i.e. 150,000 units to the mutual funds. The general public can apply for the remaining 2,730,000 units.

The issue will close early on July 13 and lately on July 22.

The interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.af ter the issuance, the paid-up capital of the company will reach Rs 1 billion.

The company has appointed NIBL Ace Capital Limited as its issue manager, meanwhile, Global IME Capital ad Kumari Capital are the underwriters of the issue.

Care Ratings Nepal has assigned Grade 4 rating  to the IPO that indicates below average fundamentals.

 


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