Union Life Insurance IPO Open From Today

Union Life Insurance Company Limited’s IPO worth Rs. The company has issued 30 percent IPO out of the issued capital of Rs 2.15 billion. Accordingly, the company will issue a total of 6.45 million IPO lots at 100 face value.

Union Life Insurance has secured 5 percent of the total 6.4 million shares to be issued, i.e. 322,500 shares to employees and another 5 percent to collective investment funds. The general public can apply for the remaining 5.8 million shares.

How many applications?

Investors will be able to apply for a minimum of 10 lots and a maximum of 32,250 lots in the IPO. Looking at the number of investors applying, it seems appropriate to apply for 10 lots in the company’s IPO.

How long can the application be submitted?

Investors will be able to apply for the IPO from July 10 to July 15 and as late as July 20.

Where to apply?

Investors can apply from all C-ASBA member banks and financial institutions and their designated branches approved by Nepal Securities and can also apply online from My Share.

What is the rating?

ICRA Nepal has given ICRA NP Issuer Triple B rating to this company. This indicates an average risk in the company’s ability to bear financial obligations.

The IPO issuance and sales manager is Prabhu Capital Limited. At present, the company’s paid-up capital is Rs 1.5 billion. After the IPO issuance and distribution, the company’s paid-up capital will reach Rs 2.15 billion.

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