Jyoti Life Insurance IPO Issuance approved
SEOBN has given granted permission to Jyoti Life Insurance to issue IPO shares. Upon receipt of this approval, the company will set an IPO share issue date shortly. SEOBN has given approval for the issuance of ordinary IPO shares of 66 lakh units worth Rs. 660000000 to general public soon.
Jyoti Life Insurance Company Limited (JLIC) had got the license to do business on August 5, 2017. "We have expanded our branch from the beginning to serve 10 locations," said Pashupati Murarka, chairman of the company. Jyoti Life Insurance Company Limited is established under Company Act 2063 and Insurance Act 2049 as a Public Limited Company in July 2017.
Jyoti Life Insurance Capital
The company has 42 promoters. The authorized capital of the company is Rs. 3 billion, issued capital Rs. 2 billion 200 million. The company, which currently has a paid-up capital of Rs. 660 million shares are to be issued. After the issuance of shares, the capital increased to Rs. 2 billion 200 million.
Jyoti Life Insurance AGM ANNOUNCEMENT
The company has announced its third AGM going to be held on kartik 26 2077 at 11:30 AM.
Issue Manager
Jyoti Life Insurance Ltd has appointed NMB Capital as an issue manager. Jyoti Life Insurance has appointed NMB Capital Limited as the manager of the issue and sale of ordinary shares worth Rs 660 million.
IPO Issue Details
COMPANY NAME: JYOTI LIFE INSURANCE CO. LTD
SECTOR: Insurance
SEBON Approval Date: 2077/11/07
TOTAL REGISTERED SHARE: 22000000
TOTAL PUBLIC ISSUE SHARE: 6600000 (30%)
a)
ISSUE MANAGER: NMB Capital Ltd
AGM Main Agendas
1. Register company to Security board for IPO Issuance
Chief Executive Officer Prakash Bikram Khatri informed that the company, which has obtained ISO 9001-2015 Quality Mark Certificate, is preparing to issue shares worth Rs. 660 million to the public soon.
Jyoti Life has already applied to the Securities and Exchange Board for the IPO. Now, the company will issue IPO to the public after getting permission from the board.
Board of Directors
Mr. Nanda Kishor Sharma
Chairman
Mr. Aakash Golchha
Director
Mrs. Sharmila Shrestha Maharjan
Director
Mr. Jayant Kumar Agrawal
Director
Mr. Ram Prasad Thapaliya
Company Secretary, Head Legal/Claim
Updated: February 23, 2021
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