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LIC IPO Set to Open on May 4, RHP Filed, Price Band, Discount, Quota, Date Announced

The much-awaited IPO of the state-run insurance behemoth is set to open on May 4

LIC IPO: The state-run insurer has fixed the price band in the range of Rs 902-949 per share for the public offer

  • Last Updated:April 27, 2022, 11:23 IST

Life Insurance Corporation of India (LIC) is all set to open its much-awaited initial public offering (IPO) on May 4. The state-run insurer has fixed the price band in the range of Rs 902-949 per share for the public offer. To encourage the investors, the government has announced discounts for retail investors and policyholders.

All you need to know about LIC IPO date, price, discounts reserved quota and other details

LIC IPO Dates: Investors can start bidding for LIC IPO from May 4 to May 9. The issue will open for anchor investors on May 4.

LIC IPO Issue Size: The government is offloading 3.5 per cent of its share in LIC. So, around 21,000 crore shares of LIC will be up for sale during the offer. The size has been significantly reduced in the wake of Russia-Ukraine war and volatile condition in the stock markets across the world.

LIC IPO Price: The company has fixed the price range of Rs 902 to Rs 949 per equity share at face value of Rs 10 per equity share. There will be a discount of Rs 45 per share for retail investors and LIC employees. The policyholders will also get a discount of Rs 60 per share.

LIC IPO Lot Size: The LIC IPO market lot size has been fixed at 15 shares. A retail-individual investor can apply for up to 14 lots or 210 shares.

LIC IPO Quota: The government has set aside 10 per cent of the issue for the policyholders. A significant amount of will also be reserved for LIC employees, according to the sources.

Around half of the net offer will be reserved for the qualified institutional buyers (QIBs). Out of the QIB’s portion, 60 per cent has been earmarked for anchor investors on a discretionary basis. One-third of the anchor investor portion will be set aside for domestic mutual funds. About 15 per cent will be allocated to non-institutional investors (NII). Around 35 per cent will be available for retail investors to participate.

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