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LIC IPO: Policyholders To Get This Much Discount In LIC Public Offerings: Read On For Details -By ASC

LIC IPO: The government is offering a discount to LIC policyholders for subscribing to a public offering

The long-awaited initial public offering (IPO) of Life Insurance Corporation of India (LIC) is scheduled to open on May 2 for major investors and for retail investors between May 4 and May 9.

Considered the country’s largest public offering to date, the LIC IPO will be in the Rs 902-949 price range.

Last week, the LIC board had agreed to reduce the size of the IPO issue to 3.5 per cent from 5 per cent, and the government is now expected to sell its 3.5 per cent stake in LIC at a price of Rs 21,000 crore.

The government also offers discounts for policyholders who wish to subscribe to public offerings.

It has announced Rs 60 per equity share discount to applicants who have LIC policies.

However, only LIC policyholders eligible for this discount who purchase their policies on or before April 13, 2022, the day LIC files its draft red herring prospectus with the Securities and Exchange Board of India (SEBI).


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