Jyoti Life Insurance IPO Result published today. You can find out here the Jyoti Life Insurance IPO result. As per Jyoti Life Insurance Ipo Result, a total of 59,40,00 individual got 10 shares. The company closed its IPO issue to the general public on 26th Falgun, 2077. This IPO issue was opened from 21st Falgun. The company has a total of 2.2 crore registered shares of which 66 lakh shares have been issued in this IPO. Thus, the IPO will raise a total of Rs. 66 crores in paid-up capital. 5% of the issue, i.e. 3,30,000 units were set aside for the employees of the company and another 5% to mutual funds. The remaining 59,40,000 units were purely for individual investors.
NMB Capital was the issue manager for the proposed IPO issue. According to CDSC, 18,04,648 applicants have applied for a total of 3,80,57,710 units. Thus, the issue is oversubscribed by over 6.4 times. This IPO broke all previous records to be the one with the most applications received.
Jyoti Life Insurance Company Limited is established under Company Act 2063 and Insurance Act 2049 as a Public Limited Company in July 2017.
The company plans to reach out to all parts of Nepal and make insurance services available to all the Nepali citizens and safeguard their future interests.
Jyoti Life takes pride in it’s diverse list of promoters. The promoters of the company consists of both, individuals from the diverse business background viz. manufacturing, trading and financial and institutions with strong brand value and presence.
The Company has an authorized capital of Rs. 300 Crore. Currently, JyotiLife has a paid up capital of Rs. 154 Crore raised from the promoter group. Jyoti Life shall be carrying out Initial Public Offering (IPO) through which it shall be raising Rs. 66 Crore thus making a total issued capital of Rs. 220 Crore.
Jyoti Life believes in customer excellence and shall be adopting technology and innovation in all avenues of it’s business. This shall reduce operational cost, improve efficiency and embed control mechanisms which shall all ultimately create a business value which JyotiLife can pass on to it’s policyholders and shareholders.
Our vision, mission and strategies shall be formulated to maximize our returns to our policyholders whilst adhering to regulatory requirements and laws at all times. JyotiLife will have a strong presence in all states of Nepal through which will be reaching out to it’s clients.
Jyoti Life Insurance Company Limited
Shanta Plaza, Pashupati Road, Gyaneshwor, Kathmandu, Nepal
Phone: +977 1 4445941 / 4445942
Jyoti Life Insurance IPO Result>>> Check from Mero share