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LIC IPO: Wait is over, LIC’s IPO will open from today, know how much discount and other details have been given to retail investors

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LIC IPO Opening from Today: The country’s largest life insurance company LIC’s Rs 21,000 crore IPO will open today and close on 9 May. The price band for LIC IPO has been fixed at Rs 902-949 per share. The company’s shares will be listed on the stock exchanges on May 17, a week after the closure of the IPO. LIC’s IPO is expected to raise Rs 21,000 crore.

LIC’s IPO will open today, the company has fixed a price band of Rs 902-949 per share
Under the IPO, 15,81,249 shares are reserved for employees and 2,21,37,492 shares are reserved for policyholders. Over 9.88 crore shares are reserved for Qualified Institutional Buyers (QIBs) and over 2.96 crore shares for Non-Institutional Buyers. Retail investors and eligible employees will get a discount of Rs 45 per share, while LIC policyholders will be able to get a discount of Rs 60 per share.

More than 22 crore shares will be sold
Under the IPO, the government is selling its 22,13,74,920 shares in the company. This IPO is in the form of Offer for Sale (OFS) and through this the government is going to sell its 3.5 percent stake in LIC by selling 22.13 crore shares. Through LIC’s IPO, the government will sell its 3.5 percent stake from today.

LIC sends SMS to policyholders about IPO
Just ahead of the IPO, Life Insurance Corporation of India (LIC) on Tuesday informed its policyholders about the share sale through SMS and other means. LIC has fixed the share price range for issue at Rs 902-949. In this, some shares have been kept reserved for existing policyholders and employees of LIC. LIC’s IPO will open for retail and institutional investors on Wednesday and will close on May 9.

Rebate of Rs 60 per share to policyholder investors
A discount of Rs 45 per share will be given to retail investors and eligible employees and Rs 60 per share to policyholders. LIC has given information related to the IPO in a message sent to its policyholders on their mobile phones. LIC has been disseminating information about this IPO through print and TV channels for several months.

LIC said that the IPO received full subscription of Rs 5,620 crore from anchor investors on Monday. LIC has raised Rs 5,627 crore from anchor investors in which there is a majority of domestic companies. 5.92 crore shares were reserved for anchor investors at the rate of Rs 949 per equity share.

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