IPOs of young insurance players in the offing; Union Life begins process of IPO issuance with ICRA rating of Four Plus for proposed 64.50 lakh unit IPO shares

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4+ (Pronounced as ICRA NP IPO Grade Four Plus) to the Rs.64.50 crore Initial Public Offer of Union Life Insurance Company Limited. Instruments with this grading are considered to have below-average fundamentals.

ICRA Nepal assigns grading on a scale of Grade 1 through 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) indicates their relative better position within the Grading categories concerned.

IPO Grade is not a recommendation to buy, sell or hold securities nor it is a comment on the price or valuation of securities.