Ajod Insurance IPO allotment to be concluded on Friday at 3 PM; only 2,73,000 lucky applicants will get 10 units in the lottery

Thu, Jul 16, 2020 7:40 PM on IPO/FPO News, Latest,

NIBL Ace Capital Limited is going to allot IPO of Ajod Insurance Limited on Friday (Shrawan 2) at 3 PM. The IPO allotment will take place at the premises of NIBL Ace Capital.

Ajod Insurance Limited has closed its IPO issue of 30,00,000 units ordinary shares worth Rs 30 crore to the general public on Ashad 29, 2077. 

Out of the offered 30,00,000 units; 4% of the total offered shares i.e. 1,20,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 1,50,000 units have been set aside for the mutual funds. The remaining 27,30,000 units are for the general public.

Global IME Capital and Kumari Capital are the underwriters of the issue.

As per the issue manager NIBL Ace Capital Limited, the issue has received approx 4,98,649 applications applying for a total of 1,80,58,930 units of shares till last day. The issue has been oversubscribed by almost 6.61 times. This is the first time any IPO has attracted so many applicants in Nepal. 

CRNL has assigned grading of ‘CARE-NP IPO Grade 4’ to the proposed Initial Public Offer (IPO) of AJOD Insurance Limited (AIL). ‘CARE-NP IPO Grade 4’ indicates Below Average Fundamentals.