Surya Life Insurance Merges With Jyoti Life Insurance | Joint Operation From Poush 7
December 20, 2022 | Investopaper
Surya Life Insurance Company Limited (SLICL) and Jyoti Life Insurance Company Limited (JLI) have successfully completed merger with each other. After the merger, the companies will commence joint operation from Poush 7, 2079 BS in the name of ‘Suryajyoti Life Insurance Company Limited’.
The merger has already received final approval from Nepal Insurance Board, Securities Board Of Nepal, and Office of Company Registrar on Mangsir 27, 2079 BS.
Earlier, both the companies had signed a preliminary agreement (MOU) for merger on Ashad 12, 2079 BS.
As per the direction of Beema Samiti, the regulatory body, the life insurance companies are required to meet the minimum capital of Rs. 500 crores by the end of Chaitra, 2079 BS. Hence, these two life insurance companies opted for merger in order to reach the capital requirement.
Due to merger agreement, the trading of shares of these two companies remained halted in Nepse. The last trading price (LTP) of SLICL and JLI stood at Rs. 387, and Rs. 359 respectively.
Before the merger, Surya Life Insurance has a paid-up capital of Rs. 255.02 crores while Jyoti Life Insurance has a paid-up capital of Rs. 242 crores.
Previously, Gurans Life Insurance Company Limited (GLICL), Prime Life Insurance Company Limited (PLIC), and Union Life Insurance Company Limited (ULI) have signed a MOU for merger on Baisakh 29, 2079 BS.
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When will the trading of slicl starts after being merged with JLI?
When will be trading of share of new merged slicl open?
What if two insurance company merges why I looses my 2 shares of jyoti life insurance. Previously I have 11 share in mero share account but now there is only 9 share of (SJLIC) why???
Why the applied kitta has been decreased of JLI?
I have 50 Kitta of Jyoti life insurance. After merging how do wacc on mero share? Could you please someone a positive reply?
For merger, you do not have to pay tax. So, calculate WACC after the sale of shares. Put WACC value higher than selling price.
Hi, for how long do we not have to pay taxes for the merger? Is it for all sectors? Do you have any article that would guide me, as I don’t have much knowledge about this information? Thanks!
What is the Merge ratio of JLI to SJLIC?