IPO of Union Life Insurance Oversubscribed in its First Day | Insurance News | Hamro Insurance
The IPO of Union Life Insurance Company Limited (ULICL) which was issued today on Friday [ July 8, 2021 ] has been oversubscribed in its first day. As per the issue manager of IPO of ULIC which is Prabhu Capital Limited, the total applicants that have applied for IPO today are 4,50,214. These applicants applied for around total 80,43,100 units of IPO as of 4pm today.
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.