Tag: Life Insurance Corporation

News & Politics

Check Your LIC IPO Allotment Status In The Following Ways

HT News

Life Insurance Corporation (LIC) is likely to announce the allotment status of its IPO today. Opened for subscription From May 4 to 9, LIC IPO is the largest initial public offering in the history of the Indian stock market.

HIGHLIGHTS

• Subscribers can check the status of their LIC IPO allotment today
• The LIC IPO was subscribed 2.95 times despite weaker market conditions
• The IPO will be listed on stock exchanges on May 17

About LIC IPO

About LIC IPO

The state-owned Life Insurance Corporation offered 16 crore shares through an IPO and received bids for 47 crore shares in the six days of the IPO bidding process. The IPO was subscribed 2.95 times but some experts are of the opinion that LIC IPO failed to perform despite its huge size because of a weak market environment.

But retail investors show much interest in the offering. The portion reserved for them was oversubscribed by 1.99 times on the last day of the bidding process.

Price of LIC IPO Shares

LIC IPO

LIC offered its shares at a price band of Rs.902-Rs.949 per share but experts rate it low as compared to others. Also, the stock could get listed at a discount to the application price as the grey market premium of shares shows a discount of Rs.10 from the highest price.

LIC would is the fifth-largest company in terms of the market capitalization post listing. It four companies listed before LIC are RIL, TCS, HDFC Bank, and Infosys.

Check LIC IPO Allotment Status:

Check LIC IPO Allotment Status:

• Visit BSE or NSE website (https://www.bseindia.com/investors/appli_check.aspx)
• Select ‘Equity’ and then ‘LIC’ from the dropdown menu
• Enter application number with PAN
• Click … Read the rest

Business News & Politics

LIC IPO Opens Under The Shadow Of Russian Invasion Of Ukraine

HT News

The much awaited initial public offering (IPO) of Life Insurance Corporation of India (LIC) will open for subscription from 4-9 May. The over Rs. 21,000 crore IPO is offered with a price band of Rs. 902-909 per share.

HIGHLIGHTS

• LIC IPO opens tomorrow and will available till Monday
• The government is giving discount of Rs. 60 to its policy holders and Rs. 45 for retail investors and its employees
• Initial size of the IPO was cut to Rs. 21,000 crore due to international war conditions
• The central government is selling 3.5% stake in LIC through the IPO

About IPO

Lic IPO

It is entirely an offer-for-sale (OFS) offered with a discount of Rs. 60 per share for LIC policyholders and Rs. 45 per share for retail investors and institutional buyers. Also, half of the issue has been reserved for qualified institutional buyers (QIBs), 35% is reserved for retail investors, and 15% for non-institutional investors.

The shares will be offered in a lot of 15 equity shares and multiples thereafter. A single lot would cost approximately Rs. 14,235 (excluding discounts) and the shares will be listed in both NSE and BSE.

The cut off time for UPI mandate conformation is fixed at Tuesday 10 May up to 12:00 pm. Applications received after the cut off time won’t be considered.

KFin Technologies has been made registrar of the issue and Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, Nomura Financial Advisory and Securities India, Goldman Sachs India Securities, ICICI Securities, JM Financial, JP Morgan India and SBI Capital Markets are the lead managers.

International Conditions Affecting The IPO

The initial … Read the rest