LIC IPO Latest Update: Information is coming out on what will be the price issue of the country’s largest IPO, which will open on May 4 and close on May 9. Policyholders are also likely to get a discount of up to 10%.
LIC IPO Latest Update: If you too have been waiting for the Life Insurance Corporation of India (LIC IPO) IPO for a long time, then your wait is about to end. This IPO of LIC will open on May 4 and close on May 9, 2022. Many more information is coming out about the country’s biggest IPO.
Discount and price band will be stamped
According to the information received from the sources, there will be a discount for the retail investors who invest in the IPO. RHP will be filed in view of LIC’s IPO on Tuesday. Also, the discount and price band will also be stamped in the board meeting to be held.
This will be the issue price of the share
Sources claim that policyholders who invest in the IPO will be given a discount of up to 10%. Also, the issue price of LIC’s IPO is expected to be 940 per share. According to this, a lot is expected to have 16 shares.
LIC’s value in IPO is 6 lakh crore
Let us tell you that the government will sell 3.5 percent stake in Life Insurance Corporation (LIC) through IPO. With this, the exchequer will get Rs 21,000 crore. The value of LIC in the IPO is Rs 6 lakh crore. The Finance Ministry had earlier planned to launch LIC’s IPO by March. But its roll-out had to be postponed due to tensions between Russia and Ukraine.
launch date stamp
According to sources, the LIC Board is going to hold an important meeting on Tuesday regarding this. In which the date of launch will be stamped. Earlier the government was going to sell 5% stake in LIC, but now the government has offered only 3.5% of the shares for the IPO. Sources said that if the demand in the market is good, then the government can increase it by 5%.
Papers were drafted in February
The government had filed draft papers of LIC with the Securities and Exchange Board of India (SEBI) in February. Whose target was to raise around Rs 65,000 crore at a market value of Rs 12 trillion. Because it reduces its 5 percent stake. Even the Rs 21,000 crore IPO will be the biggest ever and will surpass the Rs 18,300 crore record by Paytm.
