New Delhi: The Date of the Initial Public Offering (IPO) of Life Insurance Corporation (LIC) is scheduled to start on May 4, 2022. The bidding for the LIC IPO subscription will be available till May 9, 2022. According to information available in media reports, the price band of shares has been set at Rs 902 to Rs 949 per equity share by the Government of India (GoI).
However, the shares of LIC are available for purchase at a price of Rs 75 each in the grey market.
Notably, the demand or popularity of a forthcoming IPO is evaluated based on the grey market premium (GMP).
Ahead of the IPO check the key details here:
LIC IPO price: As per the GoI, LIC IPO price band is set at Rs 902 to Rs 949 per equity share.
LIC IPO date: LIC IPO will open on May 4, 2022, and will remain open till May 9 May 2022.
LIC IPO size: Through LIC IPO, the GoI has planned to raise Rs 21,008 crore.
LIC IPO application limit: The minimum limit for a bidder is 1 lot whereas the maximum limit is 14.
LIC IPO allotment date: It is reported that share allocation will happen on May 12, 2022.
LIC IPO Listing: The likely date of share listing on BSE and NSE on May 17, 2022.
LIC IPO registrar: The official registrar of LIC IPO is KFin Technologies Limited
LIC IPO discount: Policyholders will get a discount of Rs 60 per share while retail and employees will be offered a discount of Rs 40.
Experts’ view on LIC IPO
The MD & CEO of Axis Securities, B Gopkumar told Business today, ”There is a fair degree of interest in the LIC IPO from retail investors. We opened around 45,000 accounts for the IPO alone last month. We can say 40% of customers are new to the market.”
”It was expected that the valuations will be around Rs 13,00,000 crores but now it will be around Rs 6,00,000 crore and embedded values are around Rs 5,40,000 crores. The LIC IPO is valued at aournd 1.1 times of its embedded value.
