Union Life Insurance Company Limited is an upcoming IPO of the insurance company in Nepal. It is issuing 64,50,000 (Sixty-four lakh fifty thousand ) units of IPO shares to the general public starting from 24 Ashad, 2078.
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Date of upcoming IPO of the insurance company in Nepal
The closing date of this new IPO is 28 Ashad, 2078. The extended closing date for this IPO is 7 Shrawan, 2078.
Result Date of upcoming IPO of the insurance company in Nepal
Union Life Insurance Company Limited IPO is opening today between 5 PM to 6 PM onwards. The issue manager Prabhu capital has announced and published the date of the IPO result today on 15 July 2021.
According to the Nepalese calendar, the IPO result date of Union Life Insurance is 31 Ashad 2078 Thursday.
IPO Result from Issue Manager company’s Website
IPO Result is easy to check from the Issue Manager Company’s website, you must know the Issue Manager of the IPO in which you applied. Then follow the following steps carefully.
- Click on this link of Prabhu Capital.
- Select Company name from the list.
- Enter your 16-digit BOID (Demat number).
- Click on View Result.
- See the Message of the result.
Details of IPO of the insurance company in Nepal
- IPO Name: Union Life Insurance Company Limited
- Company Sector: Insurance
- Issue Manager: Prabhu Capital Ltd.
- (Open) IPO Date: 24 Ashad, 2078
- (Close) IPO Date:28 Ashad, 2078
- Price Per Share: NPR 100
- No of Units: 64,50,000
- Suitable to Apply: 10 Units
Company Profile of Union Life Insurance Co. Ltd.
Union Life Insurance Company Limited (ULICL) is operating since July 2017. Its head office is located at New Baneswor, Kathmandu. ULICL has been established with sole Nepalese capital, with major promoters’ groups of Jagadamba, Golchha, Gadiya, Neupane, Rajesh Hardware & Tibrewala Group.
ULICL is a new player in the life insurance industry of Nepal. ULICL, along with eight other LICs were licensed by the Insurance Board in 2016-17, taking the total number of life insurers from earlier nine to 18. ULICL is the fastest-growing LIC among the new players in terms of business volume and branch network.
As of mid-October 2018, it had 103 branches with around 8,140 agents including 3,125 active agents spread across the nation for procuring new business and extending after-sales services.
ULICL has a total paid-up capital of NPR 1,505 million as of mid-July 2018 and will reach NPR 2,150 million after the public issuance. Post-IPO, the promoter: public shareholding ratio will be 70:30.
ULICL has reported a profit after tax of ~NPR 108 million for FY2018 over a total asset base of NPR 2,282 million compared to a profit after tax of NPR 12 million during FY2017 over a total asset base of NPR 1,523 million.
ICRA Nepal assigns [ICRANP] IPO Grade 4+ to the proposed IPO of Union Life Insurance Company Limited
ICRA Nepal has assigned “[ICRANP] IPO Grade 4+” indicating below average fundamentals to the proposed initial public offering (IPO) issue amounting to NPR 645 million of Union Life Insurance Company Limited (ULICL). ICRA Nepal assigns IPO1 grading on a scale of IPO Grade 1 to IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals.
For the grading categories 2, 3 and 4, the sign of + (plus) appended to the grading symbols indicates their relative positioning within the grading categories concerned. Thus, the grading of 2+, 3+ and 4+ are one notch higher than 2, 3, and 4, respectively. ULICL is proposing to come out with an IPO of 6,450,000 equity shares of the face value of NPR 100.
The proposed issue is being launched to meet the minimum capital requirement for life insurers2 rolled out by the regulator, Insurance Board of Nepal. The assigned grading factors in ULICL’s good market position, as reflected by healthy business growth reported during the first 12 months of operation.
Among the new licensed nine life insurance companies (LICs), ULICL’s market share in gross premium written (GPW) stood at ~28% while its share in the GPW of 18-players industry stood at ~2%. An experienced management team, strong franchise (103 branches till mid-October 2018) and an adequate agency force including bancassurance arrangement provide additional comfort for a continuation of growth.
ULICL has derived a major portion of premium earnings from profitable traditional endowment products (~69% in FY2018), which indicates the sustainability of business volume. The grading also factors in the company’s ability to contain management expenses within the regulatory ceiling, even during the initial years of operation.
The grading also factors in the strong financial state of the promoter group and adequate reinsurance arrangement including the catastrophic provision. The grading also takes comfort from the current high-interest regime, which remains a positive from the investment yield perspective. This is likely to have a positive impact on policyholders’ and shareholders’ returns, going forward.
Check IPO Result of Union Life Insurance online
IPO results can be checked easily in Nepal in main 3 ways. It is very easy to check IPO allotment results in Nepal. This can be done from:
- Mero share IPO result portal.
- Issue Manager company’s Website
- Sales Manager Company’s Website
- Websites that provide result services
IPO Result in Nepal from Mero share Result Portal
We can check IPO result from the CDS result website portal in 5 steps easily. The efficient way to check IPO result from the Mero shares IPO result portal follow the following steps.
- Go to the CDS and Clearing Limited website.
- Select Company where you applied your IPO.
- Enter your 16-digit BOID (Demat number).
- Click on View Result.
- See the Message below the button.
- Congratulations Allotted!!! Allotted quantity: (XXXX) is for successfully allotted.
- Sorry, not allotted for the entered BOID for unsuccessful allocation of IPO units
