Union Life IPO opened from today

Union Life Insurance Company Limited(ULICL) is issuing 6,450,000 units of ordinary Shares worth Rs. 64.5 crores to the general public from Ashad-24, 2078. The early closing date of this IPO issue is on Ashad-28, 2077 and if the issue is not subscribed till Ashad-28 then this issue can be extended up to Shrawan-7, 2078.

Out of offered 6,450,000 units:

5% of the issued capital i.e., 322,500 units have been allotted for the employees of the company

5% of the total capital has been allotted for the mutual funds. 

Remaining 5,805,000 units are for the general public.

Credit Rating:

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] BBB(pronounced ICRA NP Issuer Rating triple B) to UnionLife Insurance Company Limited (ULICL). Issuers with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations.

Grading Strengths:

• Adequate branch and agency network, experienced management and ownership
• Product mix dominated by endowment products; good policy continuation rate
• Adequate reinsurance arrangement
• Progressive profitability supported by investment earnings

Grading Challenges:

• Limited track record and therefore untested underwriting controls
• Suboptimal solvency margin
• impact of an ongoing covid-19 pandemic on the life insurance industry

(SOURCE: ICRA Nepal)

How much to apply?

It is advisable to apply only 10 units in the IPO issue of Union Life Insurance Company Limited.

How to Apply for IPO in Nepal

👉Check how to apply IPO

Step 1: 

Open https://meroshare.cdsc.com.np/

Step 2:

Select DP

insert username

insert password and Click Login

Step 3:

Click On My ASBA

and Apply for Issue

Here, we can see the current list of IPO's to Apply

Step 4:

Click Apply to Desired IPO

Step 5:

Select Bank account

Set your desired apply units

insert CRN no. provided by bank

tick the check box

Click on proceed

Step 6:

Insert your 4 digit Pin code

and click Apply

Step 7:

Don't forget to see Share has been applied successfully at down right corner

Congratulations You job is Done.

Now you can apply for Any IPO from above method.