11 May , 2022 By : monika singh
Life Insurance Corporation of India (LIC) IPO share allotment will be finalised on Thursday, 12 May, after the Rs 21,000-cr public offer received 2.95 times subscription. LIC shares were offered to investors through the IPO in a fixed price band of Rs 902-949 per equity share. In the grey market on Wednesday, LIC shares were seen trading at a discount of Rs 20, at Rs 929 apiece from the upper end of price band, according to people who deal in unlisted shares of companies. The stock is likely to list on BSE and NSE on 17 May 2022.
The initiation of refunds or unblocking of funds from ASBA account will take place on 13 May, and the equity shares will get credited to depository accounts of allottees on 16 May. The IPO investors can check the IPO allotment status via BSE and the registrar’s websites. The registrar of the issue is KFin Technologies, a SEBI-registered entity, responsible for the IPO allotment and refund processing. With its IPO, LIC has become the largest ever on Dalal Street, taking over from Paytm’s public issue that came last year. In 2021 Paytm had raised Rs 18,300 crore through the IPO, other large issues on Dalal Street include Coal India at nearly Rs 15,500 crore in 2020, and Reliance Power at Rs 11,700 crore which came in 2008.
To check the share allotment status, select the company name as ‘LIC — IPO’ from the drop-down list on the Link Intime India website when it gets declared. Check box either PAN, Application Number or Depository/Client ID. Accordingly, enter the permanent account number or Application Number or Depository/Client ID in the box. Enter the given captcha in the provided space and click the submit button. This will display the number of shares that have been applied and allotted to the investor.
Another way to check the allotment status in LIC is through the BSE website. Select ‘equity’ as the issue type, and ‘LIC’ as the issue name from the drop-down list, when it gets declared. Enter the application number and PAN (permanent account number). Click on ‘I am not a Robot’. In the last step, click on the search tab to view the status details.
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