Union Life Insurance Company’s initial public offering (IPO) took place on Thursday.
According to Sales Manager Prabhu Capital, the company’s IPO results can be viewed on four websites: CDS & Clearing Limited’s website, Mero Share’s mobile app, Union Life Insurance’s website, and Sales Manager Prabhu Capital’s website.
From July 8 to July 12, a total of 2,182,775 people applied for the primary shares. Only 2.127 of them qualified for inclusion in the distribution. In other words, 69,976 applicants were rejected because they did not meet the criteria.
Out of 6.45 million shares held on behalf of the general public, 5%, or 322,500 shares, were distributed to employees, with the remaining shares going to the mutual fund.
The remaining 5.8 million lots will be available to the general public. The lucky 558,500 received 10 shares each out of the 2,112,799 eligible applications. This time, the remaining 1,527,799 people have gone without shares.