LIC IPO Announcement: If you too are planning to invest in LIC IPO, then here is a big update for you. According to a report by ABP Live, LIC has announced the price band for the IPO. If you are planning to invest in this IPO, then find out how much you need to invest. LIC company’s IPO is opening on 4th May and you can subscribe till 9th May. It is also important to note that anchor investors can bid on the IPO from May 2.
What will be the price band?
The company has raised Rs. The price band of 902-949 has been fixed. Customers will get 15 shares in one lot.
How much discount will you get?
Let us tell you that the company will give a discount of Rs 45 per share to retail customers and Rs 60 per share for policyholders.
How many shares will the company issue ,
The report said that the IPO for anchor investors will open on May 2 and for the rest from May 4 to 9. 10% of the issue (2.21 crore shares) is reserved for policyholders and 0.15 crore shares for eligible employees. The government has acquired a 3.5% stake (22 crore shares) in LIC for approximately Rs. 21,000 crores.
LIC 27 on april RHP will file
According to media reports, on April 25, the Securities and Exchange Board of India (SEBI) approved an updated draft red herring prospectus, detailing the stake sale at 3.5% instead of 5%. The red herring prospectus will now be submitted by April 27.
6 cities road show in
On the other hand, LIC management and investment bankers will conduct road shows in Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot, Kolkata, where they will meet potential investors and analysts from Wednesday. The roadshow will continue till the end of this week. Along with this, the online road show will also continue.