LIC IPO offer price, discounts revealed; check how to apply
The LIC IPO is likely to be priced in the range of Rs 902-949 per share
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FollowLife Insurance Corporation of India is expected to reveal the offer price for its policyholders and retail investors of its Initial Public Offering (IPO) on Wednesday.Â
According to reports, the LIC IPO is likely to be priced in the range of Rs 902-949 per share. LIC could provide a discount of Rs 60 per share to its policyholders. As for retail investors and employees, the discount could be fixed at Rs 45 share.
The much-awaited LIC IPO worth Rs 21,000 crore will come in May's first week. The IPO will be India's biggest ever. The IPO will open on May 2 for anchor investors and from May 4-9 for retail investors.
The government will sell 221.3 million (3.5 per cent) shares of LIC. Of this, 1.5 million shares are reserved for insurance company employees while 22 million shares are for policyholders.Â
The Centre wanted to come out with the insurance behemoth's IPO around March 2022 in order to meet its revised disinvestment target for the previous financial year. However, Russia's announcement on February 24 that it is going to war with Ukraine derailed that plan. To note, the size of the LIC IPO has also been trimmed, taking into account the global market scenario in the aftermath of the Eastern Europe crisis.
Take a look at the steps to apply for LIC IPO:
* Login to Online Banking.
* Go to the 'Investment' section. (You need a DEMAT account to take part in the IPO).
* Click on the IPO/e-IPO option
* Fill the depository information and bank account details
* Complete the verification process
* Post-verification, go to the 'Invest in IPO' section
* Select the public offering you wish to apply
* Enter the number of shares you want to opt for and the bid price. Do make sure that you read the terms and conditions thoroughly before placing a bid.
* Click 'Apply Now' to confirm and place the order.
* Check whether the shares have been allotted to you or not. For this applicants need to visit: https://www.bseindia.com/investors/appli_check.aspx
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