IPO of Jyoti Life Insurance Closes With Record Breaking Volume of Applicants; Issue Oversubscribed Over 6.4 Times

Jyoti Life Insurance Company Limited has closed its IPO issue to the general public today i.e. 26th Falgun, 2077. This IPO issue was opened from 21st Falgun.

The company has a total of 2.2 crore registered shares of which 66 lakh shares have been issued in this IPO. Thus, the IPO will raise a total of Rs. 66 crores in paid-up capital.

5% of the issue, i.e. 3,30,000 units were set aside for the employees of the company and another 5% to mutual funds. The remaining 59,40,000 units were purely for individual investors.

NMB Capital was the issue manager for the proposed IPO issue. According to CDSC, 18,04,648 applicants have applied for a total of 3,80,57,710 units. This is the data as of 5 pm after the issue concluded. Thus, the issue is oversubscribed by over 6.4 times.