Another IPO is in offer; Ajod Insurance is issuing 30 lakh IPO shares to general public from Ashad 25

Wed, Jul 1, 2020 6:51 AM on IPO/FPO News, Stock Market, Latest,

Ajod Insurance Limited is issuing 30,00,000 units ordinary shares worth Rs 30 crore to the general public from Ashad 25, 2077. The early closing date of this IPO issue is on Ashad 29, 2077 and if the issue is not subscribed till Ashad 29 then this issue can be extended up to Shrawan 8, 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.

Applications can be placed for a minimum of 10 units and a maximum of 10,000 units.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance. Global IME Capital and Kumari Capital are the underwriters of the issue.

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.

The company has earned Rs 3.51 crore till the third quarter of the FY 2076/77 and its current paid-up capital stands at Rs 70 crore.

Click here for Q3 report:

Click here for Offer letter: