All You Need To Know About LIC’s 6 Day IPO Window

The largest Initial Public Offering (IPO) in the history of the Indian capital market opened for subscription today, Thursday, May 4, 2022.

The Life Insurance Corporation of India (LIC) is the country’s largest insurer, having been in operation for almost 65 years. It is also India’s largest asset manager. Savings insurance products, term insurance products, health insurance products, ULIPs, and Annuity and pension plans are all part of the company’s vast, diverse product line, which spans individual and group products.

All You Need To Know About LIC's 6 Day IPO Window

Features

  • Subscriptions for the LIC Initial Public Offering (IPO) will be accepted until May 9
  • The IPO’s price band has been set at Rs 902-949 per share
  • This IPO is expected to garner Rs 21,000 crores for the company. A total of Rs 5,627 crores has already been raised through anchor investors
  • If LIC’s bid is successful, this will be the largest share sale sum ever raised through an IPO

Things To Know About LIC IPO

Date of IPO – The LIC has opened a six-day IPO window for retail investors, which will begin on May 4 and end on May 9.

Price range – The initial public offering (IPO) pricing band has been priced at Rs 902 to Rs 949 per equity share.

Discount – Retail investors will be allocated the issue at a discount of Rs 45 per equity share, while LIC policyholders will be provided a Rs 60 discount on the issue price. The first bid lot is 15 equity shares, and succeeding bid lots are 15 equity shares in multiples of 15.

Policy holder – Policyholders can just apply for IPO under the policyholder category if their policy was connected to their PAN before February 28, 2022.

Size of IPO – The Union Government plans to generate Rs 21,008.48 crore through the public offering, making it the largest IPO ever.

Allotment and Listing – The share allotment announcement is expected to be made on May 12th, and the shares are expected to be listed on the BSE and NSE on May 17th.