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LIC 3.0: India’s Largest IPO Opens On May 4: 10 Points -By ASC


The LIC IPO will open on May 4, 2022

The LIC IPO is set to open on May 2, 2022 for major investors and on May 4 for subscriptions for retail investors. The issue will close on May 9th

Here are the details of the mega public offering.

  1. The LIC IPO is set to open on May 2, 2022 for major investors and on May 4 for subscriptions for retail investors. The issue will close on May 9th.

  2. Secretary in the Department of Investment and Public Asset Management (DIPAM) Tuhin Kanta Pandey said LIC was heading for an IPO worth Rs 21,000 crore.

  3. He said that the insurance company was targeting to raise Rs 5,630 crore on the upper price band through pre-IPO share placements.

  4. “We have planned to launch the LIC IPO now because of the strong lead book, reduced volatility, strong domestic flows, Mr Pandey said.

  5. “Despite weak global sentiment, the Indian market is resilient due to strong domestic inflows. We expect strong retail participation in the IPO, “he added.

  6. LIC chairman MR Kumar described the public offering as LIC 3.0

  7. The IPO will be a genuine offer for sale of up to 221.37 million shares. It holds around 59.29 million shares for its major investor division.

  8. The share of employee bookings was 1.58 million while policyholder bookings were 22.14 million. The share of eligible institutional buyers (QIB) is set at 98.83 million.

  9. The basis of the allocation will be made on May 12 and the shares will be credited to Demat’s account on May 16. The company plans to list on the exchange on May 17.

  10. India’s largest IPO, which reduced its issue size by about 60 per cent due to weak market conditions, had earlier announced its price band at Rs 902-949 per share.

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