Ajod Insurance IPO: Last Day To Apply

July 13, 2020 | Investopaper

Ajod Insurance IPO

Ajod Insurance, one of the newly established non-life insurance company of Nepal, is going to issue 30 lakh unit shares in the Initial Public Offering (IPO). The company will float the IPO from Ashad 25, 2077. The IPO issue will remain open until Ashad 29, 2077. If it remains undersubscribed until that period, it will extend to Shrawan 8, 2077.

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Out of the total issue, employees will participate in 4 percent or 1,20,000 unit shares. Likewise, mutual funds can apply for 5 percent or 1,50,000 shares. Thus, the general public can participate in the remaining 27.30 lakh shares.

Interested investors can place the application for a minimum of 10 units and a maximum of 10,000 units.

Securities Board of Nepal (SEBON) had provided the approval for the IPO on Ashad 7, 2077. For the issuance of IPO, the company had submitted the application to the Securities Board of Nepal (Sebon) on Magh 21, 2076.

Care Ratings Nepal Limited has assigned ‘CARE-NP IPO Grade 4’ ratings to the IPO of Ajod Insurance Limited. This indicates below average fundamentals.

Related: List Of Upcoming IPO Of Insurance Company In Nepal

At current, the paid-up capital of the insurance is Rs. 70 crores, which will rise to Rs. 100 crores after the IPO. The company will then meet the minimum capital requirement for the non-life insurance, as per the directive of Beema Samiti.

NIBL Ace Capital is the issue manager for the IPO of Ajod Insurance.

After the IPO issue, the general public will possess 30 percent of the company. Likewise, the promoters will hold 70 percent ownership.

Related: Upcoming Initial Public Offerings (IPO) In Nepal

About Ajod Insurance

Ajod Insurance came into operation in Ashad 21, 2075 (July 5, 2018).

The authorized and issued capital of the company is Rs 1 Arba. The 70 percent of the subscription has been fully paid up by the promoters permitted under the law and the remaining 30 percent is expected from the general public through Initial Public Offering (IPO).

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Ajod Insurance offers various insurance products which are shown below:

Property Insurance

Motor Vehicle Insurance

Marine / Transit Cargo Insurance

Miscellaneous Insurance

Engineering Insurance

Aviation Insurance

Agriculture Insurance (Cattle & Crops)

Micro Insurance

Read Related Contents:

How To View IPO Result In Meroshare?

Book Building Method In Nepal: Provision To Issue IPO At More Than Rs 100

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