LIC IPO to open on Wednesday; Here's everything you need to know
The insurance behemoth Life Insurance Corporation IPO will enter primary markets on May 4, 2022, i.e. tomorrow. For the first time, the corporation has retained a distinct quota for policyholders, who will receive a 10% reserved allocation and a discount when purchasing LIC shares. Here is everything you need to know.
FollowThe insurance behemoth Life Insurance Corporation (LIC) of India's Initial Public Offering (IPO) will enter primary markets on May 4, 2022, i.e. tomorrow. The Government of India (GoI) has set the LIC IPO price band at Rs 902 to Rs 949 per equity share, with a discount of Rs 60 for policyholders and Rs 45 for LIC employees applying for the public issue. The public issue will be up for bidding until May 9, 2022.
- LIC IPO date: The public offering will begin on the 4th of May 2022 and will be up for bidding until the 9th of May 2022.
- LIC IPO application limit: A single bidder can apply for a minimum of one lot and a maximum of 14 lots.
- Investment limit for LIC IPO: The minimum amount required to apply for the LIC IPO is Rs 14,235. The highest amount that a single retail investor may invest is Rs 1,99,290.
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- LIC IPO size: The Government of India intends to raise Rs 21,008.48 crore through its much-anticipated public offering.
- LIC IPO pricing: The Government of India has set the LIC IPO price band at 902 to 949 rupees per equity share.
- LIC IPO allotment date: The date for the announcement of share allocations is May 12, 2022.
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- LIC IPO listing: LIC shares will be listed on the BSE and NSE, with a projected share listing date of May 17, 2022.
- Lot size for the LIC IPO: An applicant would be able to apply in lots, with each LIC IPO lot consisting of 15 LIC shares.
- Discount for LIC policyholders: The Government of India has provided a Rs 60 discount for applicants who apply under the policyholders category.
- Reduction for LIC workers: The Government of India has approved a Rs 45 discount for LIC employees who apply for the public issuance under the employees category.
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Meanwhile, the primary issue of the LIC IPO is slated to start tomorrow, with investors of all types eager to participate. For the first time, the corporation has retained a distinct quota for policyholders, who will receive a 10% reserved allocation and a discount when purchasing LIC shares.
To apply for the LIC IPO, investors and LIC policyholders must have a demat account. To book the issue, they can utilise several brokerage applications such as Groww, Upstox, and Zerodha, or they can use the platform of any other depository participant (DP).
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