27 Apr , 2022 By : Kanchan Joshi
LIC IPO: It's official now. The public issuer offering (IPO) of Life Insurance Corporation (LIC) of India is going to hit primary markets next month. As per teh information available on BSE website, LIC IPO subscription will open on 4th May 2022 and it will remain open for bidding till 9th may 2022. The Government of India (GoI) has fixed LIC IPO price band at ?902 to s 949 per equity share.
The GoI has also announce a discount of ?45 per equity share to retail and eligible employee category and of ?60 per equity share to policy holder category. Meanwhile, LIC share price has started trading in the grey market as well. According to market observers, shares of LIC are trading at a premium of ?48 in the grey market today. However, it had made its debut in the grey market on Monday at a premium of ?25.
Here we list out important LIC IPO details in 10 points:
1] LIC IPO GMP: Shares of LIC IPO started trading in grey market on Monday at a premium of ?25. LIC IPO GMP today is ?48 that means grey market is expecting LIC IPO listing at around ?997 ( ?949 ?48), around 5 per cent higher from its issue price.
2] LIC IPO price: The GoI has fixed LIC IPO price band at ?902 to ?949 per equity share.
3] LIC IPO date for subscription: The public issue of insurance behemoth will open for subscription on 4th May 2022 and it will remain open for bidding till 9th May 2022.
4] Discount for LIC policyholders: The GoI has announced ?60 per equity share discount to the applicants having an LIC policy. However, only those LIC policyholders will be eligible for this discount who bought their policy on or before 13th April 2022, the day LIC filed its DRHP at SEBI.
5] Discount for LIC employees: The GoI has announced ?45 per equity share discount to LIC employees applying for the public issue.
6] LIC IPO size: The GoI aims to raise ?21,008 from its public offer, which is 100 per cent OFS (offer for sale) in nature.
7] LIC IPO lot size: An applicant will be able to apply for the IPO in lots and one lot of the public issue comprises 15 LIC shares.
8] LIC IPO application limit: A bidder is allowed to apply for minimum one lot and maximum 14 lots of the LIC IPO.
9] LIC IPO listing: The public issue will list on both NSE and BSE and the tentative listing date of the public issue is 17th May 2022.
10] LIC IPO registrar: KFin Technologies Limited has been appointed as official registrar of the LIC IPO.
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