LIC IPO: The country’s largest LIC IPO has opened for retail investors from May 4. It will be open till May 9, you can invest in it. Market experts have high expectations from this IPO.
LIC IPO Latest News: The Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) opened for investors on Wednesday. The government aims to raise Rs 21,000 crore from this IPO by selling 3.5 percent shares of LIC. LIC’s IPO will close on 9 May.
Rs 902-949 price band
LIC has fixed the price band for IPO at Rs 902-949. In this, some shares have been reserved for existing policyholders and employees of LIC. A discount of Rs 45 per share will be given to retail investors and employees and Rs 60 per share for policyholders.
5,627 crore raised from anchor investors
22.13 crore equity shares will be offered for sale. LIC shares are likely to be listed in the market on May 17. In the information given by LIC, it was told that Rs 5,627 crore has been raised from anchor investors. 5.92 crore shares were reserved for anchor investors at the rate of Rs 949 per equity share.
6 lakh crore rupees
LIC has been valued at Rs 6 lakh crore for IPO. Earlier, the government had a plan to raise 30 thousand crore rupees by selling 5 percent stake. But now only 3.5 percent stake is being sold.
Out of the remaining shares after reservation of employees and policy holders, 50% will be for QIBs, 35% for retail investors and 15% for NIIs. The total issue size of LIC’s IPO will be 22.13 crore shares. Out of this, 10 percent i.e. 2.21 crore shares are for policy holders.
