Jyoti Life Insurance Company Limited 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 crores registered shares of which 66 lakh shares were issued in this IPO. Thus, the IPO raised a total of Rs. 66 crores in paid-up capital.
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 was oversubscribed by over 6.4 times. This IPO broke all previous records to be the one with the most applications received. The allotment program has already concluded.
Jyoti Life Insurance has appointed NIC ASIA Capital as its share registrar. When Sharesansar called, the share registrar stated that the application has already been lodged to CDSC and they expect the shares to be listed next week. When Sharesansar called the exchange, NEPSE's spokesperson Mr. Murahari Parajuli stated that the exchange lists the shares for trading within 2 to 3 days after they receive the application given that all necessary documents are complete and authentic.