Jyoti Life IPO allotment results on Friday, 12.5 Lakh applicants will go empty handed
The initial public offering (IPO) results of Jyoti Life will be held on Friday. According to NMB Capital, the company’s share issuer and sales manager, the IPO was pre-allotted on Tuesday and sent to the Securities and Exchange Board(SEBON) for final approval.
NMB Capital is preparing to distribute the IPO on Friday morning after the approval from the board.
As per the pre-allotment made in accordance with the Securities Issuance and Distribution Directive 2074, it has been mentioned that 594,000 applicants will be equally distributed at the rate of 10 units share through lottery.
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Accordingly, out of 18 lakh 42 thousand 496 people who have applied for IPO, 12 lakh 48 thousand 496 people (including double applicants) will be left empty handed. Which is 67.76 percent of those who have applied from the general public quota. Only one out of 3 candidates will get 32.24 percent of the share.
Due to the high number of applications, only one-third of the investors will be able to get the shares as per the Securities Issuance and Distribution Directive 2074.