Union Life Insurance IPO Closed Today | Highest Applicants For Single IPO Ever Received in Capital Market History of Nepal

Union Life Insurance IPO Closed Today | Insurance News | Hamro Insurance

The IPO of Union Life Insurance Company  Limited (ULICL) which was issued today on Friday [ July 8, 2021 ] has been closed today. As per the issue manager of IPO of ULIC which is Prabhu Capital Limited, the  total applicants that have applied for IPO today are 21,50,478. These applicants applied for around total 3,40,10,890  units of IPO as of 5 :08 pm today. The IPO of Union Life Insurance was  oversubscribed by 5.85 times which is considered to be the highest number of applicants that is ever received  for a single IPO in the history of Capital Market in Nepal.

 

Union Life Insurance Company IPO Details

  • Issue Opening Date = 24th Ashad, 2078
  • Issue Closing Date = 28th Ashad, 2078
  • Total Units of IPO Issued = 64,50,000 Units (At Par Value of Rs 100) = Rs 645,000,000

 

Among the total units issued,

  • Percentage Allotted to the Employees = 5% of Total Issued Units = 322,500 Units = Rs 32,250,000
  • Percentage Allotted to the Mutual Fund = 5% of Total Issued Units =  322,500 Units = Rs 32,250,000
  • The remaining 90% is allotted to the General Public = 5,805,000 Units = Rs 580,500,000 

After the issuance of this IPO by the Union Life Insurance Company  Limited, the paid-up capital of the company is about to reach Rs 2.15 Arba where the 30% will be the public holding and 70% will be the promoters holding regarding the shares.

 

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