The allotment program for the IPO shares of Jyoti Life Insurance Company Limited has just begun at the premises of the company itself.
The company closed its IPO issue to the general public on 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. Thus, the issue is oversubscribed by over 6.4 times. This IPO broke all previous records to be the one with the most applications received.
The official bodies have prohibited news portals from publishing the IPO result. Investors can now check the IPO allotment result only from Meroshare itself. If the platform does not load due to the influx of investors, one can also check the result from CDSC's custom link, https://iporesult.cdsc.com.np/.
The same is the case for the IPO result of Sunrise Bluechip Fund. Sunrise Capital Limited opened the IPO issue of 10 crore units of Sunrise Bluechip Fund. from 1st Chaitra. The issue is already closed now. Out of the 10 crore units to be auctioned, 15% units were reserved for fund promoter Sunrise Bank. The remaining 8,50,00,000 units were open for application. Rs. 10 is the par value per unit. The allotment program hasn't concluded yet for the mutual fund.