Ajod Insurance’s Shares Listed on NEPSE; trading to resume from tomorrow between Rs 97 - Rs 291 range

Ajod Insurance Limited's (AIL) IPO shares have been listed in NEPSE from today. The shares can be traded from tomorrow in the secondary market. The opening range has been set from Rs. 97 to Rs. 291.

Out of the total 1,00,00,000 shares, 30,00,000 shares were issued to the general public as Initial Public Offering from Ashad 25- 29, 2077.

Chief Executive Officer of NEPSE Mr. Chandra Singh Saud and company CEO Kumar Bahadur Khatri signed on the Shares Enlistment Agreement.

As per the issue manager NIBL Ace Capital Limited, The issue had received applications from 4,84,498 valid applicants who had applied for a total of 17,215,490 units. The issue was oversubscribed by more than 6.31 times. 

As per the allotment module held on 2nd Shrawan, a total of 2,73,000 applicants were allotted 10 units each via lottery, and the remaining 2,11,498 applicants were returned empty hands. 

AIL has been able to list its share on NEPSE beforehand than Sadhana Laghubitta Bittiya Sanstha Limited. Sadhana had issued 7,07,800 units ordinary shares worth Rs 7.07 crore to the general public from Ashad 21-24, 2077 and the allotment had happened on 29th Asad, 2077.