Kathmandu. 1.376 million 761 people have applied for the IPO of Jyoti Life Insurance Company Limited. According to the information given by CDS and Clearing Limited, 298.77 million 540 shares have been demanded from these applicants till 5 pm on Monday. Which is 5 times more than the demand.

Out of the total 6.6 million shares allotted to the public by the company, only 5.94 million shares have been issued to the public. Out of the total, 333,000 shares at the rate of 5 percent have been reserved for the employees of the company and 5 percent for the collective investment fund.

As more applications have been received than the demand, this IPO will be closed soon by March 10. A minimum of 10 lots and a maximum of 66,000 lots can be applied for this IPO purchase. The sales manager is NMB Capital Limited.

Applications can also be submitted from my share along with the sales manager, all the participating banks and financial institutions and branch offices of the three ASBA services. The company's IPO has been given a Care NP Triple B Issuer rating indicating a moderate safe position in terms of timely fulfillment of financial obligations.

The company is about to issue an IPO to the public to maintain the prescribed paid-up capital of Rs 2 billion. The current paid-up capital of 70 percent of the founders is Rs 1.54 billion. After the IPO, the company's paid-up capital will reach Rs 2.20 billion.

According to the unrevised financial statement of the company, the net worth per share has been 132.94 and earnings per share has been 12.65 till last fiscal year 076/77. The company's net profit for the period is Rs 286.41 million.