Jyoti Life appoints NMB Capital as issue manager for its upcoming IPO; to float 66 lakh unit shares for general public

Jyoti Life Insurance Company Limited has appointed NMB Capital as issue manager for the issuance of its 66 lakh unit IPO shares which was endorsed by its AGM held on Magh 10, 2074 to general public. Issuing the press statement, it was informed that the agreement was signed between the deputy CEO of the new life insurance Mr. Prakash Bikram Khatri and CEO of NMB Capital Mr. Shrijesh Ghimire on Falgun 9, 2074. The IPO shares will be floated for the general public after receiving go-ahead signal from SEBON, Insurance Board among other regulators. Currently, Jyoti Life has a paid up capital of Rs. 1.54 arba raised from the promoter group. Jyoti Life shall be carrying out Initial Public Offering (IPO) through which it shall be raising Rs. 66 Crore thus making a total issued capital of Rs. 2.20 arba.