According to the issue manager, the IPO of Jyoti Life has received application worth Rs 2.98 billion. According to CDS, 1,376,761 people have applied for 298,77,540 unit till 5 pm on Monday. This is 5.02 times more applications based on the total 59.40 million unit opened for public.
Thus, the issue is already oversubscribed both in terms of the number of applications and units.The lottery is confirmed for 10 units each to 5,95,000 applicants and those who have not applied till now may apply only for 10 units.
Jyoti Life has opened IPO from March 7. The company has issued a total of 6.6 million unit at the rate of Rs 100. Out of this, 330,000 unit for employees and 330,000 units have been allocated to mutual funds. The general public will be able to apply for the remaining 59.40 million units. Applications for this IPO can be submitted till March 10.
In Jyoti’s IPO, applicat can apply for a minimum of 10 unit and a maximum of 66,000 units. NMB Capital has acted as the sales manager. Investors will be able to apply through C-ASWA banks and financial institutions and meroshare.