Kathmandu: The application submission for IPO of Union Life Insurance Company Limited is open from today.The company is issuing 645,000 IPOs at a face value of Rs. 100, equivalent to a total of Rs. 645 million.
Out of the total IPO, 5 percent of the total capital, i.e. 322,500 shares have been secured for employees and 5 percent for mutual funds, while the remaining 5.8 million shares have been allocated to the public.
Investors will be able to apply for a minimum of 10 lots and a maximum of 32,250 lots in the IPO. Prabhu Capital Limited is the issue manager.
The general investors will be able to apply for the IPO in the amount of 5.8 million.This means that according to the 10lot rule, 580,500 investors will receive 10 lots of shares. Based on the previous IPO applications, it is easy to estimate that more than 2 million applications will be submitted, so it seems that even if you apply for ten shares in the IPO of Union Life Insurance, it will be enough.
Investors will be able to apply for the IPO from today as early as July 11 and as late as July 20. 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.
