Kathmandu. Jyoti Life Insurance has been allowed to issue ordinary shares (IPO) worth Rs 660 million. The Securities and Exchange Board of India (SEBI) has allowed the company to issue 6.6 million IPOs worth Rs 660 million, which is 30 percent of the total issued capital.

After the permission of the board, the company will issue 6.6 million ordinary shares at a face value of Rs 100. Out of which 5 percent will be secured for employees and 5 percent for mutual funds and the rest will be distributed to the general public.