SuryaJyoti Life Insurance’s 500,000 Promoter Shares Up for Auction

Kathmandu — SuryaJyoti Life Insurance Company Limited has announced the sale of 500,000 promoter shares through a sealed bid auction, opening up a significant investment opportunity for interested individuals, companies, and institutions.According to the notice, the bidding process began on Chaitra 18 and will continue until Chaitra 25. Eligible investors are required to submit confidential sealed bids specifying their offered price per share at Reliable Investment and Merchant Capital Limited, Baluwatar, Kathmandu.The company has set a minimum price of NPR 240 per share, and any bids below this threshold will not be considered. Applicants must apply for the entire block of shares, ensuring compliance with the maximum ownership limits set by regulatory authorities.To participate, bidders must submit a “Good for Payment Cheque” equivalent to 100 percent of their bid amount as a deposit. The company has stated that unsuccessful applicants will have their funds refunded through the IPS system.In terms of allocation, priority will first be given to existing promoter shareholders. Remaining shares, if any, will be distributed to qualified bidders offering the highest price. Final approval of the allotment will be subject to the company’s board of directors and, if necessary, regulatory authorities.The bids are scheduled to be opened on Chaitra 26 at 11:00 AM. The auction is expected to attract investor interest and expand opportunities within Nepal’s insurance sector.