Union Life Insurance Company Limited will be giving 64,50,000 units worth Rs 64.50 crore as Initial Public Offering (IPO) to the general public from Ashad 24 to 28, 2078.
The early end date of this issue is on Ashad 28, 2078 and the issue isn’t completely applied in till Ashad 28, it can extended up to Shrawan 7, 2078.
Out of the offered 64,50,000 units; 5percent of the absolute offered IPO to the general public for example 3,22,500 units have been saved for the employees of the company and 5 percent of the absolute offered units to the general public i.e.3,22,500 units have been saved for the shared assets. The leftover 58,05,000 units are for the general public.
Applications can be put for at least 10 units and a limit of 32,250 units.
Prabhu Capital Limited has been designated as the issue manager for the IPO issuance of this company.
ICRA Nepal has allocated the guarantor rating of [ICRANP-IR] BBB to Union Life Insurance Company Limited (ULICL). Promoters with this rating are considered to have a moderate level of wellbeing in regards to convenient adjusting of monetary commitments.
Also, read; Manakamana Smart Laghubitta issuing IPO 38.9 lakh units to the general public
After the issuance of 64,50,000 units worth Rs 64.50 crore IPO shares the overall population i.e 30% of absolute capital which will together raise its settled up money to Rs 2.15 Arba and the promotion/public proportion will be 70:30.
Union Life Insurance Company Limited (ULICL) is a public limited company. It is a Life insurance company established in July 2017.
Its administrative and corporate office is in New Baneswor, Kathmandu. The company has a value conjecture of various business houses in Nepal, for example, Jagadamba group, Golchha group, Gadiya group, Neupane group, Rajesh Hardware group, and Tibrewala Group.
