Finally, the starting date of subscription of IPO of LIC has been finalized. At a press conference this afternoon, LIC has made public all the information about the starting date of IPO subscription, price band, lot size, &, etc. Read the article completely to know more about this.
- On April 25, SEBI approved LIC’s updated Draft Red Herring Prospect (DRHP). Now, the date of LIC IPO coming into the market has also been fixed. The LIC board meeting was held yesterday after the re-submitted DRHP of LIC has been approved by SEBI. In that meeting, the final decisions were taken on the price band, lot size, etc. of the LIC IPO, and all this information was brought into the notice of the investors through a press conference today.
Some Information about LIC IPO
- The size of LIC’s IPO is Rs 21,000 crore.
- The face value of each share is 10 rupees.
- The LIC IPO lot size is 15 and a retail investor can apply for a maximum of 14 lots.
- LIC employees will get a discount of Rs 60 per share.
- LIC policyholders will get a discount of Rs 45 per share.
- Ordinary investors will be able to buy LIC’s IPO from May 4 to 9. However, Anchor Investors will be able to buy shares from the 2nd date.
- The allotment date for this IPO is 12th May and the stock will be listed on the stock market on 17th May.
LIC IPO Price Band
- The country’s largest insurance company has set the price of each lot of their IPO between Rs. 902 and Rs. 949. As a result, to buy one lot of LIC IPO, a retail investor has to invest a minimum of Rs. 13,530 and a maximum of Rs 14,235.
- If a common investor wants to apply for a maximum of 14 lots, he has to invest a minimum of Rs. 1,89,420 and a maximum of Rs. 1,99,290.
LIC IPO Subscription Date
Date of LIC IPO Subscription for Anchor Investors
- Subscription to LIC IPO for Anchor Investors will start on 2nd May.
Date of LIC IPO subscription for general investors
- For common investors, the subscription of LIC IPO will start on 4th May and will continue till 9th May.
Reservation in LIC IPO
- LIC IPO has reserved some portion of stocks for its employees and policyholders. 10% shares are reserved for policyholders and 0.15% of shares are reserved for LIC employees.
- If you are a policyholder of LIC and want to apply for LIC IPO, you will need to have your PAN card linked with your policy.
Some Information about LIC
- LIC is an insurance cum investing company.
- LIC is the largest insurance company in India and the fifth-largest in the world.
- LIC controls assets of Rs 39,000 crore.
- LIC owns 4% of all stocks listed on the Indian stock exchange.
- In India, LIC is synonymous with life insurance.
How to apply for LIC IPO
- You must have a Demat account to apply for the LIC IPO. If you do not have a Demat account, you can open a Demat account in Zerodha by clicking on the link below.
CLICK HERE TO OPEN DEMAT ACCOUNT IN ZERODHA
We hope that you will get to know some new information from this post. If you have any questions about this post or any other financial matter, please let us know in the comment box or email us at our email id [email protected]. If you like this post, share it with others and give others a chance to know and get updated information on various financial matters, click the bell icon so that you get notifications from us whenever we publish a new post.
Disclaimer: Investing in the stock market is always risky. So do not take the stock mentioned in this post as a recommendation in any way. The stock named in this post is for educational purposes only. The author of this post or anyone associated with this blog will not be held responsible in any way if anybody suffers a loss by investing in the stock market after reading this article.