Ajod Insurance appoints NIBL Ace as the issue manager of its IPO; Company raising Rs 30 crore from the issue

Tue, Oct 15, 2019 3:09 PM on IPO/FPO News, Latest, Stock Market,

Ajod Insurance Company is issuing 30 lakh units shares at Rs 100 per share as Initial Public Offering (IPO) to the General Public. It has appointed NIBL Ace Capital as the issue manager for the IPO issuance.

The agreement has been inked by Deputy CEO Surendra Thapa on behalf of Ajod Insurance and Deputy CEO Mekh Bahadur Thapa on behalf of NIBL Ace Capital.

The authorized and issued capital of Ajod Insurance is Rs 1 arba with Rs 70 crore as paid-up capital. After the IPO issuance, its paid-up capital will stand at Rs 1 arba.

The company had started its operation from Ashad 21, 2074 with its headquarter located at CTC Mall, Kathmandu. The company has established its branches in all the 7 provinces. It has a network of 29 provincial branches and 19 third-party insurance counters. Similarly, it is on its way to add 9 more sub-branches in 2076/77 at Damak, Simara, Taadi, Chapagaun, Kawasoti, Paalungtar, Burtibang, Paschim Rukum and Tikapur.