Jyoti Life Insurance to issue Rs  66 crore worth IPO for the general public

Jyoti Life Insurance has decided to issue IPO worth Rs 66 crore for the general public on their first AGM. The life insurance has decided to float 30% of its total paid up capital as initial public offering for the general public. The company’s 1^st AGM has decided on the issuance of IPO worth 30% of the total paid up capital (Rs 2.20 arba crore) i.e. 66 lakh unit IPO. 70% of the paid up capital have already been subscribed by the promoters. The insurance company started its official business from Ashoj 8, 2074. And as per the directive issued by SEBON, an insurance company cannot float an IPO unless the company completes 1 year of operation. Hence, the IPO will also be issued after 1 year. Currently, Jyoti Life Insurance has a paid up capital of Rs 1.54 arba with Rs 8.99 crore in the reserve and surplus. It has published its second quarter report with Rs 8.03 crore net profit. Its EPS stood at Rs 5.21 and net worth per share stood at Rs 105.84.