The months-long wait for the country’s biggest IPO is now over. LIC’s IPO was officially announced on Wednesday, a day after the board meeting. The LIC board met on Tuesday after market regulator SEBI approved the updated draft of the IPO. Matters ranging from LIC’s IPO price band to lot size and reservation were finalized in the meeting.

How much money would a lot cost

It has been said in the press conference that the price band of Rs 902 to Rs 949 has been fixed for this mega IPO of the government insurance company. In this IPO, there will be 15 shares in one lot. This means that if you want to invest in this IPO then you have to buy at least 15 shares. Also, every investor who has not been given any kind of exemption will have to invest at least Rs 14,235 in this IPO.

LIC IPO Highlights:


May 2 – Anchor Trench

May 4 to 9 – Public Offering

Issue Size (LIC IPO Issue Size):

22.13 crore shares – 3.5% of the total shares

LIC IPO Reserve:

For Policyholders – 10% of the issue – 2.21 crore shares

For employees – 0.15 crore shares

After reservation for policyholders and employees, 50% of the shares will go up for QIBs, 35% for retail investors and 15% for NIIs. 60% of the shares of QIB will be reserved for anchor investors.

Price Band: Rs 902 to 949

Lot Size: 15

Will make history even if the size is small

DIPAM Secretary Tuhin Kant Pandey said in the press conference that LIC was an investor till now but now it is going to give investment opportunity to the people. “We have been waiting for this day for a long time,” he said. The government is committed to LIC’s IPO. The purpose of listing LIC is to create a valuation for LIC shareholders over the long term. This is the right size of LIC IPO, especially considering the current market conditions. Despite its small size (around Rs 21,000 crore), this will be India’s biggest IPO.

LIC will be 3.0 after IPO

LIC chairman MR. Kumar said, “When LIC started selling insurance in the country, it was LIC 1.0. When the insurance market opened in the country, LIC changed itself, technology changed and accepted the competition, that was LIC 2.0. Now after IPO it will be LIC 3.0.