Subscription for the Initial Public Offering (IPO) of insurance behemoth Life Insurance Corporation (LIC) of India has opened today and it will remain open for bidding till 9th May 2022.
While investors are busy scanning the financials of LIC, the grey market is also giving positive signals in regard to the public issue. According to market observers, LIC IPO GMP (grey market premium) today is 85, which is around 8 per cent higher than the LIC IPO price band of ₹902 to ₹949 per equity share.
Here are the important points to remember
- LIC IPO date: The public offering will begin on the 4th of May 2022 and will be up for bidding until the 9th of May 2022.
- LIC IPO application limit: A single bidder can apply for a minimum of one lot and a maximum of 14 lots.
- Investment limit for LIC IPO: The minimum amount required to apply for the LIC IPO is Rs 14,235. The highest amount that a single retail investor may invest is Rs 1,99,290.
- LIC IPO size: The Government of India intends to raise Rs 21,008.48 crore through its much-anticipated public offering.
- LIC IPO pricing: The Government of India has set the LIC IPO price band at 902 to 949 rupees per equity share.
- LIC IPO allotment date: The date for the announcement of share allocations is May 12, 2022.
- LIC IPO listing: LIC shares will be listed on the BSE and NSE, with a projected share listing date of May 17, 2022.
- Lot size for the LIC IPO: An applicant would be able to apply in lots, with each LIC IPO lot consisting of 15 LIC shares.
- Discount for LIC policyholders: The Government of India has provided a Rs 60 discount for applicants who apply under the policyholders category.
- Reduction for LIC workers: The Government of India has approved a Rs 45 discount for LIC employees who apply for the public issuance under the employees category.