LIC’s IPO opens tomorrow, should you subscribe? Key things to know
The long-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 auction until May 9, 2022.
Through this IPO, the largest in the history of Indian stock markets, the government aims to liquidate its 3.5% stake in the insurance giant and is expected to mop up around Rs 21,000 crore at the moment. upper end of the price range of 902 rupees. – 949 per share.
The government has set the IPO price range of LIC at Rs 902 to Rs 949 per share with a Rs 60 discount for LIC policyholders and a Rs 45 discount for LIC employees.
Here are the key things to know before subscribing to LIC IPO:
LIC IPO date
The public issue will open tomorrow (May 4, 2022) and will remain open for auction until Monday (May 9, 2022).
LIC IPO Price Band
The offer price range has been set at Rs 902-949 per share.
LIC IPO Discounts
There is also a rebate of Rs 60 for eligible LIC policyholders and a rebate of Rs 45 will be offered to retail investors and employees.
LIC IPO Size
The government is seeking to raise Rs 21,008.48 crore from LIC’s IPO.
IPO LIC lot size
A LIC IPO lot would have 15 LIC shares. You can bid on a maximum of 14 lots.
Considering that a single share costs Rs 949, you would need Rs 14,235 for a single IPO lot of LIC while the maximum you can invest is Rs 1,99,290
LIC IPO award date
The allocation of shares will be announced on Thursday, May 12, 2022.
IPO of LIC
LIC shares will be listed on BSE and NSE on May 17, 2022.