On 27 April 2022, the Life Insurance Corporation (LIC) invited the media for a conference at 12.30 pm on the mega LIC IPO. The much-awaited issue of the state-run insurance behemoth will open on May 2 for anchors and on May 4 for subscriptions adding that the IPO will close on May 9. The mega LIC IPO will be the biggest IPO in the Indian Capital Market.
- The price band for the LICIPO has been set from Rs 902 to Rs 949.
- The government plans to offload a 3.5 per cent stake or 22.13 crore shares in the company and raise Rs 20,557.23 crore.
- LIC valuation is now at close to Rs 6 lakh crore, from the earlier Rs 17 lakh crore expected.
- Employees and retail investors will be given a Rs 45/share discount, while LIC policyholders will get a Rs 60/share discount.