LIC IPO Opens Today For Retail Investors: Here's What You Need To Know

Today, 04 May 2022, the biggest Initial Public Offering (IPO) in the history of the Indian Capital market opened for retail investors for the subscription.

LIC or Life Insurance Corporation Of India is the country's biggest insurer providing life insurance for more than 65 years. It is also the largest asset manager in India. The company has a broad, diversified product portfolio covering various segments across individual products and group products such as saving insurance products, term insurance products, health insurance products, ULIP, and Annuity and pension products.

Here's all you need to know about the LIC IPO:

IPO Date - The LIC launched a six-day IPO window opening today, 04 May for bidding for the retail investors and will close on May 9.

Price band - The pricing band for the initial public offering (IPO) has been set at Rs 902 to Rs 949 per equity share.

Discount Price - Retail investors would be offered the issue at a discount of Rs 45 per equity share, while LIC policyholders will receive a Rs 60 reduction on the issue price. The minimum bid lot is 15 equity shares, with subsequent bid lots in multiples of 15 equity shares.

Policyholder- Policyholders can only apply for IPO under the policyholder category if they have linked their policy with PAN before 28 February 2022.

IPO Size - The Union Government has planned to raise Rs 21,008.48 crore from the public issue, which makes it the biggest IPO to date.

Allotment and Listing - The Share allotment announcement is likely to be announced on 12 May, and the shares are likely to be listed on BSE and NSE on 17 May.