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LIC IPO Opened On May 4, Price Band Rs 902-949 -By ASC


LIC’s IPO is India’s largest public offering in the capital market. (Representative)

New Delhi:

The Life Insurance Corporation (LIC) public offering, India’s largest public offering has finally arrived, with the long-awaited initial public offering (IPO) opening on May 2 for major investors and from May 4 to May 9 for the public, insurance giants confirmed on Wednesday at his press conference.

The public offering will be in the Rs 902-949 price range, with a Rs 60 discount for policyholders and a Rs 45 discount for retail investors and employees.

On Saturday, the LIC board approved a reduction in the size of its IPO issue to 3.5 percent from 5 percent, the company said. The government will now sell its 3.5 per cent stake in LIC for Rs 21,000 crore, valuing the insurance giant at 6 lakh crore.

Here are the highlights at the LIC IPO press conference:

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Commencement of LIC 3.0, said LIC Chairman MR Kumar
The start of LIC 3.0, said LIC chairman MR Kumar

“Great Opportunity, Considered Unthinkable”: DIPAM Secretary
LIC’s IPO is a great opportunity and something that is considered unthinkable and it has always been an investor and now it comes to investors to invest, said DIPAM secretary Tuhin Kanta Pandey.

Rs 45 Discount For Employees And Retail Investors
Rs 45 discount for employees and retail investors. The employee booking portion is 5 per cent of the post -offer equity share capital and the policyholder’s booking portion will be below 10 per cent of the offer size.

India’s Biggest Public Issue Will Be In The Price Band ₹ 902-949
India’s biggest public issue will be in the ₹ 902-949 price range, with a Rs 60 discount for policyholders and a Rs 45 discount for retail investors and employees.

LIC’s IPO Will Open On May 4
LIC’s IPO, the largest in India, will open on May 4, close on May 9

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