LIC IPO Latest Update: The Finance Ministry has issued a directive related to employees to the heads of public sector banks. In this direction, it was said that the banks associated with LIC IPO should not be transferred till May 15.
LIC IPO Latest Update: There is a big update on the IPO of Life Insurance Corporation of India. The Finance Ministry has issued a directive related to employees to the heads of public sector banks. In this direction, it was said that the banks associated with LIC IPO should not be transferred till May 15.
IPO will open tomorrow for common investors
A directive has been issued to the heads of public sector banks on behalf of the Department of Financial Affairs working under the Ministry of Finance. Let us tell you that LIC is the biggest IPO of the country till date. It was open for anchor investors on May 2. It will open for general investors on 4 May 2022 and will close on 9 May 2022.
Strong response from anchor investors
On behalf of the government (Modi Government), the price band of LIC’s IPO has been fixed from Rs 902 to Rs 949 per share. There will be 15 shares in one lot. Earlier on May 2, LIC’s IPO got a tremendous response from anchor investors. Full subscription of Rs 5,620 crore has been received from anchor investors.
Target to raise Rs 21 thousand crore
Shares of Rs 5,620 crore were reserved for anchor investors. It is fully subscribed in this segment. Now this IPO will open for other investors on Wednesday. The government aims to raise Rs 21 thousand crore from this IPO. Under the IPO, the government is selling 22,13,74,920 shares of LIC.
Retail investors and eligible employees will get a discount of Rs 45 per share, while LIC policyholders will be able to get a discount of Rs 60 per share.
