LIC IPO Launch: The country’s largest LIC IPO is going to open today. People were waiting for this IPO for a long time. Investors can invest in LIC IPO till May 9.
LIC IPO Launch Updates: There is good news for the people waiting for Public Issue Offer (IPO) of Life Insurance Corporation of India. Today (on May 4) their wait is about to end. LIC’s IPO is going to open in the primary market from today. Investors will get a chance to invest money in it till May 9.
The price band has been kept at Rs 902 to 949 per share.
Let us tell you that the price band of LIC’s IPO has been fixed at Rs 902 to 949 per share. From retail category to policyholders can also invest money in it. Discounts have also been kept for different categories. A discount of Rs 45 per share has been given for retail and eligible employees and Rs 60 per share for policy holders.
Government wants to raise Rs 21,008 crore from IPO
In LIC IPO, the government is selling its 22,13,74,920 shares. Investors are getting an opportunity to apply in LIC IPO both physically and digitally. The share price is trending up even in the gray market. The Government of India wants to raise Rs 21,008 crore from its IPO offer. Which is completely 100% OFS (Offer for Sale).
LIC gave information through SMS
Let us tell you that before the IPO, LIC on Tuesday informed its policyholders about the share sale through SMS and other means. LIC has given information related to IPO in a message sent to its policyholders on their mobile phones. LIC has been disseminating information about this IPO through print and TV channels for many months.
Raised Rs 5,627 crore from anchor investors
LIC said that it has raised Rs 5,627 crore from anchor investors, in which there is an abundance of domestic companies. 5.92 crore shares were reserved for anchor investors at the rate of Rs 949 per equity share. LIC is going to sell 3.5 percent of its shares through IPO. It is expected to raise Rs 20,557 crore.
