New Delhi, April 26. If you are also waiting for LI’s IPO then there is great news for you. The price band for Life Insurance Corporation of India (LIC) IPO has been fixed at Rs 902 to Rs 949. There will be a discount of Rs 60 on this price band for policyholders. Whereas for retail and employees, the discount will be Rs 40 per share. Know further details.
Amazing: Shares of these two companies will become 10 times without spending anything, what do you have?
when will ipo come
The much-awaited IPO of the state-run insurance giant is set to open on May 4, reports Moneycontrol. The issue is likely to close on May 9. The IPO offer may open for anchor investors on May 2. As reported by CNBC TV18, the Securities and Exchange Board of India (SEBI) on April 25 had given its approval to the updated draft red herring prospectus, which seeks to sell 3.5 per cent stake instead of 5 per cent.
how big will the issue be
The revised DRHP was presented to the market regulator last week. The government, which completely owns the insurance giant, plans to raise an amount of Rs 21,000 crore by selling around 22 crore shares, which is equivalent to 3.5 per cent stake in LIC. Through the Rs 21,000 crore IPO, the government is targeting Rs 6 lakh crore valuation of the insurance company. The previous draft papers related to the IPO were filed with Sebi in February after the government said it was planning to sell 316 crore shares in its 5 per cent stake sale in the state-run insurer. However, the IPO plan was then shelved. After the Russian invasion of Ukraine, the market faced volatility, due to which LIC’s IPO was postponed.
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LIC IPO Shares will be available for this much rupees know the price band
SEBI had on April 25 given its approval to the updated draft red herring prospectus, which seeks to sell 3.5 per cent stake instead of 5 per cent.
Story first published: Tuesday, April 26, 2022, 20:08 [IST]