LIC IPO: India’s biggest IPO opens tomorrow – Here are 10 things you should know

LIC IPO: Buyers are on the fringe of their seats as India’s largest public concern, the Life Insurance coverage Firm (LIC) preliminary public providing (IPO) hits main markets on Wednesday. The Centre has fastened the LIC IPO worth band at ₹902 to ₹949 per fairness share. The LIC IPO has been valued at ₹21,000 crore. The general public concern opened first to anchor traders on Could 2 and it’ll stay open for bidding to most people from Could 4 until Could 9, 2022.

This is every thing you’ll want to find out about LIC IPO:

1. The overall worth of LIC IPO is about at ₹21,000 crore, making it India’s largest public concern thus far.
2. Round 15.81 lakh shares have been reserved for workers and round 2.21 crore shares for policyholders.
3. Candidates will be capable to apply in tons, the place one LIC IPO lot contains 15 LIC shares. An applicant can apply for no less than one and a most of 14 tons.
4. Because of this, the minimal quantity required to use for the LIC IPO is ₹14,235 ( i.e. ₹949 x 15). Click on right here to know how you can apply for LIC IPO
5. Market observers instructed LiveMint that the LIC IPO gray market premium (GMP) – the worth traded within the gray market earlier than the IPO itemizing course of – at the moment is ₹85, as in comparison with ₹69 yesterday.
6. The federal government introduced a ₹60 low cost to the policyholders and ₹45 low cost to LIC staff making use of for the general public concern.
7. LIC coverage holders’ reservation portion might be 10 per cent of provide dimension, whereas staff may have 5 per cent of post-offer fairness share capital reserved.
8. The IPO was deliberate to be launched earlier than March 31 but it surely was postponed as a consequence of poor market situations amid the Russia-Ukraine battle.
9. The LIC IPO has obtained ₹13,000 crore value of funding commitments from anchor traders – over twice the worth of shares supplied to such traders, three individuals with direct data of the event mentioned.
10. The LIC shares are prone to be listed on BSE and NSE on Could 17.

The Authorities of India, which owns the insurance coverage large, plans to promote a 3.5 per cent stake as an alternative of the 5 per cent that was listed within the earlier Draft Crimson Herring Prospectus (DRHP). The mega IPO goals to supply a major contribution to the federal government’s disinvestment proceeds this fiscal. The Centre had pegged receipts at ₹65,000 crore – up from ₹13,531 crore within the final fiscal.