Union Life Insurance has set a new record for IPO applications. As many as 2.1 million applicants have applied for the company's IPO till the last day. This is the highest number of IPO applications so far.
As per the information given by the sales manager Prabhu Capital, by 5 pm on Friday, 2,150,478 applicants have applied for the purchase of 34,010,890 units of shares.
Union Life Insurance has issued 6.45 million units shares equal to Rs 645 million, which is 30 percent of the total issued capital of Rs 2.15 billion. Of that, 5 percent or 322,500 units shares were reserved for employees and another 5 percent for mutual investment funds, and the remaining 5.8 million units shares were sold to the public.
IPO
