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Sunday, May 22, 2022

LIC IPO for Policyholders: Country’s largest IPO will open tomorrow, chance to invest money in LIC’s IPO

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LIC IPO for Policyholders: The wait for LIC IPO is finally over and it will be available for bidding for investors from tomorrow. The country’s biggest IPO will be open for bidding by common investors from tomorrow and will pave the way for lakhs of investors who want to invest in it. 

Anchor investors got full subscription
Let us know that this IPO has opened on May 2 for the bidding of anchor investors and anchor investors have invested Rs 5627 crore in it. The insurance company told the stock exchanges that the share of anchor investors (AI) (5,92,96,853 equity shares) got full subscription at Rs 949 per equity share. 

Know the big things about IPO
According to the IPO document, out of 22.13 crore shares offered for sale, 5.93 crore shares were reserved for anchor investors. According to the information given to the stock market, out of the allocation of about 5.9 crore shares to AI, 4.2 crore shares (71.12 per cent) were allotted to 15 domestic mutual funds. This allocation has been done through a total of 99 schemes. 

LIC IPO details

  • LIC IPO will open for subscription of retail investors tomorrow i.e. on 4th May and will be open for bidding till 9th ​​May.
  • The central government’s plan to sell 3.5 percent stake in the company through this IPO There is a plan and through this it wants to raise Rs 20,557.23 crore. 
  • In this IPO 22.13 crore shares of LIC will be issued.
  • Government 22,13 through offer for sale ,74,920 crore shares and will disinvest 3.5 per cent stake in the company. 
  • For LIC’s IPO, the company has fixed a price band of Rs 902-949 per share. 
  • In this IPO 15,81,249 crore shares are reserved for employees of the company and 2,21,37,492 crore shares are reserved for policyholders.
  • A bidder can apply for at least one lot. Whereas maximum 14 lots are allowed, 
  • An investor can apply for a minimum of one lot and a maximum of 14 lots. Under which at least one investor will have to invest Rs 14,235 to apply. Investors can bid for a maximum of 14 lots of Rs 1,99,290.
  • The date of allotment of LIC shares is 12th May 2022 and these shares will be credited to the demat account of the investors by 16th May 2022.
  • Listing of shares of LIC may happen on BSE and NSE on 17th May 2022.
  • LIC’s IPO has received tremendous response from anchor investors and from this the government has raised Rs 5627 crore

Also there were investments in LIC IPO by some domestic insurance companies and pension funds, ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB MetLife Insurance, SBI Pension Fund and UTI Retirement Solutions among the investing domestic institutions Includes pension fund schemes. Foreign partners include the Government of Singapore, the Monetary Authority of Singapore, Government Pension Fund Global and BNP Investments LLP. 

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