LIC IPO Date : LIC IPO will open on 4 May
The latest news from LIC IPO is coming up. LIC’s IPO will open to the public on May 4, Which people have been waiting for a long time. Now the wait of the directors is over. LIC(life insurance corporation) is the largest insurance company in India. Through this IPO, the Indian government will sell its 3.5% stake in the public sector company. From which the government will get Rs 21,000 crore.
#LICIPO may start on May 4 and end on May 9
— Zee News English (@ZeeNewsEnglish) April 25, 2022
When will the LIC IPO come?
The IPO will open on May 4th, Which will be closed on 9th May, 2022. The draft paper of LIC’s IPO was submitted by the government in February. Before the indian government was going to sell 5% stake in Life Insurance Corporation, but now the our government has offered 3.5% of the shares for the LIC IPO. If the demand for IPO in the market is good, then the government can increase it up to 5%.
- Subscription start date : 4 May, 2022
- Subscription end date : 9 May, 2022
Also read What is Initial Public Offering? How people become rich from it?
LIC’s IPO value 6 lakh crore
LIC’s value in IPO is Rs.6 lakh crore. The IPO was to be launched by the end of March this year. But the decision was postponed due to the war between Russia and Ukraine. Earlier, the term of API was kept at Rs.60,000 crore but it was reduced keeping in view the global market conditions. According to SEBI rules, a company with a valuation of Rs 1 lakh crore or more has to sell 5% stake to the government.
#ETNOWExclusive | Sources on #LICIPO: Up to 5% differential discounts likely to #LIC employees & policyholders. Expect 4-5 global and domestic anchor investors in LIC@Meghnamittal23 @LICIndiaForever #StockMarket pic.twitter.com/MQSNuar4jL
— ET NOW (@ETNOWlive) April 26, 2022
A portion of the IPO is reserved for the policyholder of LIC Company, The 10% size will be available to LIC policy customers. At this time, there are about 28.9 crore policyholders in Life Insurance Corporation(LIC) .
What will be the LIC IPO Price?
The IPO issue price (LIC IPO Price) can be between Rs 2,000-2,100. You can take lot of 7 shares can be for this IPO. It will cost about Rs.14,700. But so far no definite information has been given about this.
Why the size of IPO was reduced?
The stock market plummeted during the war between Russia and Ukraine, Due to which instability was visible in the stock market. Apart from this, the US Federal Reserve also raised interest rates. For all these reasons, the size of the IPO was reduced. Its size has now been increased to Rs.21,000 crores. According to the government, LIC valuation is ₹6 trillion.