Tuesday, May 17, 2022
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

LIC IPO opens, here’s all you need to know before subscribing to this public issue

Jaleel M. by Jaleel M.
May 4, 2022
in Business
0
LIC IPO opens, here’s all you need to know before subscribing to this public issue
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter


LIC IPO News Today – The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. Also, 10 per cent of the shares are reserved for LIC policyholders, while 0.7 per cent for LIC employees

Related posts

How a sustainable, destination-oriented tourism may do wonders for India

How a sustainable, destination-oriented tourism may do wonders for India

May 17, 2022
10 grams of 24-carat stands at Rs 50,450; silver at Rs 59,400 per kilogram 

10 grams of 24-carat stands at Rs 50,450; silver at Rs 59,400 per kilogram 

May 17, 2022

LIC IPO opens, here's all you need to know before subscribing to this public issue

LIC IPO opens on 4 May – PTI

New Delhi: LIC public offer, the country’s biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors.

The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.

The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on 9 May, 2022.

LIC IPO launch date                : 4 May, 2022

LIC IPO closing date               : 9 May, 2022

LIC IPO share listing date    : 17 May, 2022

LIC IPO price band per share:

LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share.

The share sale is through an offer-for-sale (OFS) of up to 22.13 crore equity shares. The shares are likely to be listed on 17 May.

LIC has cornered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions. Anchor Investors (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share.

LIC reduced its IPO size to 3.5 per cent from 5 per cent decided earlier due to the prevailing market condition. Even after the reduced size of about Rs 20,557 crore, LIC IPO is going to be the biggest initial public offering ever in the country.

Don’t Miss:

LIC IPO opens today: Here’s what you should know before investing

LIC IPO opens on 4 May, to list on stock exchange on 17 May; price band Rs 902 to 949

Government to sell 3.5% stake in LIC, IPO to fetch Rs 21,000 crore

Also, 10 per cent of the shares are reserved for LIC policyholders, while 0.7 per cent for LIC employees

So far, the amount mobilised from the IPO of Paytm in 2021 was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at nearly Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.

LIC was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore.

Its product portfolio comprises 32 individual products (16 participating products and 16 non-participating products) and seven individual optional rider benefits. The insurer’s group product portfolio comprises 11 group products.

As of December 2021, LIC had a market share of 61.6 per cent in terms of premiums or GWP, 61.4 per cent in terms of new business premium, 71.8 per cent in terms of the number of individual policies issued, and 88.8 per cent in terms of the number of group policies issued.

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.





Source link

Previous Post

Pay for account on Twitter? Elon Musk says may charge slight fee for commercial, government users

Next Post

10 grams of 24-carat stands at Rs 51,510; silver at Rs 62,300 per kilo

Next Post
10 grams of 24-carat stands at Rs 51,510; silver at Rs 62,300 per kilo

10 grams of 24-carat stands at Rs 51,510; silver at Rs 62,300 per kilo

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

French Producer Darius and Nigerian Artist Wayne Snow Unveil New Single “Equilibrium”

French Producer Darius and Nigerian Artist Wayne Snow Unveil New Single “Equilibrium”

2 years ago
Daniel Ricciardo Sees Business As Usual As F1 Makes Delayed Start

Daniel Ricciardo Sees Business As Usual As F1 Makes Delayed Start

2 years ago
TEMPERS RELEASE NEW SINGLE “THE USE OF MY BELONGING”

TEMPERS RELEASE NEW SINGLE “THE USE OF MY BELONGING”

2 years ago
Here’s What’s Really Going On Between Tyler Cameron and Model Jilissa Ann Zoltko

Here’s What’s Really Going On Between Tyler Cameron and Model Jilissa Ann Zoltko

2 years ago

FOLLOW US

  • 110 Followers
  • 29.5k Followers
  • 168k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    0 shares
    Share 0 Tweet 0
  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • Salted vs. Unsalted Pistachios

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy