There is good news for investors, who are looking to invest in an IPO. A new insurance company IPO is coming. After IPO approval from the Securities Exchange Board of Nepal (SEBON), Jyoti Life Insurance Company is issuing the IPO. The company’s IPO date has been confirmed. Jyoti Life Insurance is going to issue IPO from Falgun 23 ( फागुन २३ ).
Jyoti Insurance company’s IPO will close on Falgun 28 ( फागुन २८ ). If all IPOs are not sold on this date, the IPO will remain open till Chaitra 8 ( चैत ८ ). Investors can apply for a minimum of 10 kitta and a maximum of 66,000 kitta.
How to apply for IPO
Interested applicants can apply for IPO through C-ASBA member banks and financial institutions. Also applicants can apply for IPO through Mero share online. The IPO issue and sale manager is NMB Capital Limited.
Jyoti Life Insurance Credit Rating
CARE RATING NEPAL has given CARE NP BBB credit rating for IPO issuance. This indicates that the company’s financial condition is very strong and company is safe to meet financial obligations on time. Jyoti Life Insurance’s latest quarterly report is very attractive. The company has earned Rs 14 per share in the last quarter.
At present, Company’s paid-up capital is Rs 1.54 billion. The company is about to issue 6.6 million IPOs worth Rs 660 million. After approval of SEBON, company is issuing IPO for general public in a few days. After the IPO allotment, the paid-up capital will reach Rs 2.20 billion.
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