LIC IPO announced: Date, price band, discounts, bid lot for policyholders, employees, investors
India Today
LIC's IPO size will be Rs 20,557 crore. With this IPO, the government would sell a 3.5 per cent stake in the insurance giant by selling 22.13 crore shares.
Life Insurance Corporation of India's (LIC) on Wednesday announced the largest-ever initial public offering (IPO) in India. The IPO is all set to hit the market in May. Details regarding the initial share sale of LIC have also been disclosed.
LIC policyholders and its employees and general investors must go through all the details carefully before parking money in the IPO.
1. LIC's IPO size will be Rs 20,557 crore. With this IPO, the government would sell a 3.5 per cent stake in the insurance giant by selling 22.13 crore shares.
2. Till date, Paytm IPO in 2021 was the largest ever IPO in India at Rs 18,300 crore, followed by Coal India in 2010 at nearly Rs 15,500 crore and Reliance Power in 2008 at Rs 11,700 crore.
3. The IPO will open for subscription on May 4 and will close on May 9. The window for anchor investors will open on May 2.
4. LIC has fixed the price band at Rs 902-949 per share. The bid lot is 15 shares.
5. LIC has reserved 10 per cent of shares for its policyholders and 0.7 per cent for employees.
