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.