LIC IPO Price Band: The price range for IPO of Life Insurance Corporation of India (LIC) will be Rs 902 to Rs 949 per share. LIC will give discounts to its policyholders.

LIC IPO Price Band: If you are also waiting for the public sector insurance company Life Insurance Corporation of India (LIC) to IPO, then your wait is about to end. Along with this, the price band of IPAO has also come to the fore. An important meeting of the LIC board was held on Tuesday (April 26) to finalize this.

How much will a share cost?

LIC has fixed the price range for its Initial Public Offer (IPO) from Rs 902 to Rs 949 per share. Giving this information on Tuesday, sources said that LIC will give a discount of Rs 60 to its policyholders. Whereas retail investors and employees will be given a discount of Rs 40.

IPO expected to open on May 4

The IPO of Life Insurance Corporation of India (LIC) is expected to open on May 4. At the same time, it is being estimated that this issue will be closed on May 9.

Government will sell 3.5 percent stake

In February, the government had planned to sell its five per cent stake or 316 crore shares in the insurance giant. The government had also submitted documents in this regard to the Securities and Exchange Board of India (SEBI). However, the volatility in the market due to the Russo-Ukraine war also affected the planning of the IPO. Last week, the government decided to reduce the issue size from five per cent to 3.5 per cent.

(Input – news agency language)

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