The IPO of AJOD Insurance (AJOD) will be distributed on Friday. According to NIBL S Capital, the company’s share issue and sale manager, the IPO will be held at 3 pm today. A total of 1,72,15,490 shares have been demanded from 4,84,498 eligible applications for the company’s IPO, according to Capital. Out of that, only 273,000 people will get shares at the rate of 10 lots based on the Gaela system. The remaining 211,498 will be vacated.
Ajod Insurance Application Update
The final figures of the IPO applicants of Ajod Insurance have come. A total of Rs 1.81 billion has been applied for this. 5 lakh 2 thousand 298 people have applied for 181 lakh 63 thousand 990 lots. This is 6.65 times more than the demand. This is the final figure, according to sales manager NIBL S Capital. However, as errors were found in some of the applications, after verification, general changes may take place.
2 lakh 73 thousand applicants will get shares at the rate of 10 lots
The total number of applicants for Ajod’s IPO is 5 lakh 2 thousand 298 people, said the sales manager. On this basis, according to the current rough statistics, 273,000 applicants will get shares at the rate of 10 lots. 229,000 people will be deprived of IPO. According to the sales manager, as errors were found in some of the applications, the number of shareholders may increase during verification.
Ajod had sold 3 million IPOs worth Rs. Out of which 4% or 120,000 shares have been given to the employees and 5% or 150,000 shares have been given to the collective investment fund. The remaining 2.73 million lots have been opened for sale to the public.
Ajod’s IPO was given a grade 4 plus rating by Care Rating Nepal, which has a lower than average basis. At present, Ajod has an authorized capital of Rs 1 billion and a paid-up capital of Rs 700 million. After the IPO distribution, the paid-up capital will reach Rs 1 billion.
Ajod Insurance had issued the Initial Public Offering form Ashar 25th 2077.
The share will be issued in following areas.
|| For Employees
|| For Mutual Fund
|| For General Public
Applicant can apply from 10 units to 10000 units. NIBL Ace Capital is issue manager for the ipo issuance. Global IME Capital and Kumari Capital are the underwriter for Issue.
AJOD Insurance Limited was set up under the Insurance Act of 1992 (2049 B.S.). Getting license and approval from Insurance Board of Nepal (Beema Samiti), it was formally established in 2008 (2064 B.S.) and officially started its operation from 21st Ashad 2075 (5th July, 2018).
The Company is founded and supported by leading commercial banks, bankers and highly fervid professionals having successful career history from various fields viz government/non-government (Civil Servants/Armed forces) sectors, hydropower, supermarkets, real estate, reputed trading houses and also diplomacy. Therefore, AJOD enjoys a firm backdrop and amalgamation from Nepal’s Intellectuals to financiers with an active involvement for its nourishment to flourishment.
The authorized and issued capital of the company is Nepalese Rupees One Billion (USD equivalent 10 Million). The 70% of the subscription has been fully paid up by the promoters permitted under the law and the remaining 30% is expected from the general public through Initial Public Offering (IPO). Furthermore, the company has managed to meet competition and is moving in forward direction to grasp the growing market within a very short span of time from its inception by pursuing a policy of aggressive marketing, prompt service delivery and result oriented action, notably, keeping the standard at the highest possible level
What is IPO Share ?
- IPO means the initial public offering of the shares. Initial public offering are used to raise the more capital in the public limited company.Public Limited company can listed in stock exchange after publishing Initial public offering.It is the process by which the company can sold its stock to the general pubic. The allocation system of IPO is differs from country. In the case of Nepal Nepal government of Nepal has make the policy to allocated the shares by the lottery with the minimum 10 units shares each person if the IPO is oversubscribed. If the IPO is not subscribed then the IPO shares will allotted as per the demand of the applicants. IPO become the good source of income for the general public. Once the founders have acquired the founder shares, an investment environment is created to run the company. Only then is the loan sought and ordinary shares issued. An IPO (ordinary share) is an investment raised from the general public. Generally, the price of one share is 100 rupees. According to the current arrangement, a minimum of 10 lots, i.e. one thousand rupees can be applied. You can buy it for 100 rupees and if you have a good company, the share price of 100 rupees will go up. Take Nepal Reinsurance Company, which was recently listed in Nepse. Those who have applied for the IPO of this company have got 40 lots or up to Rs 4,000 worth of shares. The company’s share price rose to Rs 440 on Monday. As of Monday, the portfolio of 4,000 shareholders has increased to Rs 16,400. One year before the issuance of IPO, the concerned companies issue invitations. The invitation letter states how many shares the company is issuing and from what date. The invitation letter mentions the current status and future plans of the company apart from how much and from where applications can be made for the company’s shares. Those who can study the invitation letter well can also get a lot of information about the company from there. Since such an invitation has been approved by the Securities and Exchange Board, investors can rely on credibility.
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