The much-awaited Initial Public Offering (IPO) of Life Insurance Corporation (LIC) is set to open on Wednesday (May 4). The public issue will remain open for bidding till May 9, 2022.
Through this IPO, the biggest in the history of the Indian stock markets, the government aims to liquidate its 3.5 per cent stake in the insurance behemoth and is likely to mop up about Rs 21,000 crore at the upper end of the price band of Rs 902 – 949 per share.
The Government has fixed the LIC IPO price band at Rs 902 to Rs 949 per equity share with Rs 60 discount to the LIC policyholders and Rs 45 discount to LIC employees.
LIC IPO date
The public issue will open tomorrow (May 4, 2022) and will remain open for bidding till Monday (May 9, 2022).
LIC IPO price Band
The price band for the offer has been fixed at Rs 902-949 per equity share.
LIC IPO discounts
There is also a discount of Rs 60 to the eligible LIC policyholders and a discount of Rs 45 will be offered to retail investors and employees.
LIC IPO size
The government looks to raise Rs 21,008.48 crore from the LIC IPO.
LIC IPO lot size
One LIC IPO lot would have 15 LIC shares. You can bid for a maximum of 14 lots.
Considering a single share costs Rs 949, you would require Rs 14,235 for a single lot of LIC IPO while the maximum you can invest is Rs 1,99,290
LIC IPO allotment date
The share allocation will be announced on Thursday May 12, 2022.
LIC IPO listing
Shares of LIC will list on BSE and NSE on May 17, 2022.
