LIC IPO to open tomorrow; know details
The Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) insurance company is going to be launched on 4th May 2022 i.e. tomorrow. The Government of India (GoI) has fixed the price band for LIC IPO at ₹902 to ₹949 per equity share. In this, a discount of ₹ 60 has been announced for policyholders and ₹ 45 for LIC employees. The public issue will be open for bidding till 9th May 2022.
LIC IPO: Country’s biggest IPO
Through LIC IPO, the government will sell its 3.5 percent stake in the public sector company. With this, the government will get Rs 21,000 crore. In February, the government had planned to sell five per cent stake or 316 crore worth shares in LIC. Documents in this regard were submitted to the Securities and Exchange Board of India (SEBI). According to the government, this IPO will be the biggest ever and will benefit investors in the long run.
Tremendous response from anchor investors
LIC’s mega IPO for anchor investors was opened on May 2. LIC’s IPO received a strong response from anchor investors on Monday. Full subscription of Rs 5,620 crore was received from anchor investors.
Let’s know the important things about the upcoming LIC IPO:
LIC IPO GMP: According to market experts, LIC IPO Gray Market Premium (GMP) today is Rs 85, which is Rs 16 more than yesterday’s gray market premium of Rs 69.
Opening Date: The public issue will open on 4th May 2022 and will remain open for bidding till 9th May 2022.
Price: Government of India has fixed price band from ₹902 to ₹949 per equity share.
Size: The government is looking to raise ₹ 21,008.48 crore from this issue.
Lot size: There will be 15 shares in one lot.
Application limit: A bidder can apply for a minimum of one lot while a maximum of 14 lots are allowed.
Investment limit: A bidder can apply for a minimum of one lot and a maximum of 14 lots. To apply for the IPO, minimum one investor needs to invest ₹14,235, while the maximum one can invest is ₹1,99,290.
Allotment date: The allotment date of LIC shares is 12th May 2022.
Listing Date: LIC shares will be listed on BSE and NSE and the likely date of share listing is 17th May 2022.
Registrar: Kfin Technologies Limited is the official registrar of LIC IPO.
