Union Life Insurance Company Limited is issuing IPO units worth Rs 645 million to the general public from today till July 12. The company is distributing 6,450,000 units of ordinary shares, said CEO of the company Manoj Kumar Lal Karna.
The company has decided to issue 30 per cent of the shares to the public and 70 per cent to the promoters. Currently, the paid-up capital of the company is Rs 2.15 billion.
Out of the issued units, 322,500 units will be allotted to the employees, 22,500 units to mutual funds, and 5,805,000 units to the general public.
Applicants can apply for a minimum of 10 units and a maximum of 32,250 units.
Prabhu Capital Limited has been assigned as the issue manager of the IPO.
The general public can apply for the issued IPOs from NEPSE, CASBA certified banks, financial institutions, and meroshare app.