Ajod Insurance convenes its 1st AGM; When can public expect 30 lakh unit IPO shares now?

Ajod Insurance has convened its first AGM on Asad 30, 2076. Within a short span of a year, the insurance company has been able to expand through its 30 branches, 1 customer service center and 17 third party insurance counters in different parts of the nation, as per the media statement.

The AGM has endorsed the financial reports of Fiscal year 2064-65 till 2073-74, annual report of fiscal year 2074-75, selection of external auditor for the company, and handed over the authority to the board to issue IPO shares in future.

The AGM also unanimously elected Mr. Ajad Shrestha, Mr. Ram Bahadur Gurung, Mr. Sagar Gurung and Mr. Chiranjibi Duwa into the board from the promoters’ group. Following the AGM, the board has appointed Mr. Ajad Shrestha as the new chairman who received his oath of designation and secrecy from chairman of Insurance Board Mr. Chiranjibi Chapagain.

The insurance company has raised insurance premium of Rs 41 crore, and disbursed claims of Rs 2.83 crore, has a paid up capital of Rs 70 crore and investment of Rs 78.05 crore so far till the end of the review period.