Jyoti Life Insurance to issue IPO from March 7

Feb 26, 2021 10:43 AM Merolagani

Jyoti Life Insurance is set to issue an initial public offering (IPO) from March 7. The company is issuing 6.6 million units of primary shares worth Rs 660 million.

Out of the total offered units, the company has secured 5 percent i.e. 333,000 units each to employees and mutual funds.

The general public can apply for the remaining, 5,940,000 units of shares. The IPO will close early on March 12 and lately on March 21. The interested investors can apply for a minimum of 10 and maximum of 66,000 units of shares.

The company has appointed NMB Capital as its issue manager. The investors can apply from C-ASBA approved BFIs and through meroshare.

Care Ratings Nepal has assigned Care NP BBB rating to the IPO indicating moderate risk.

Currently, the company has paid-up capital of Rs 1.54 billion that will reach Rs 2.20 billion after the IPO.

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