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.
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