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LIC IPO, India’s biggest IPO opens on May 4: Key things to know

New Delhi: The Life Insurance Company of India (LIC)’s much touted initial public offering (IPO) reaches primary markets on Wednesday, i.e. May 6 putting investors on the edge of their seats. The price band for the LIC IPO has been set at Rs 902 to Rs 949 per equity share by the government. The LIC's first public offering (IPO) was valued at Rs 21,000 crore. The public offering began with anchor investors on May 2 and will be offered to the general public for bidding from May 4 until May 9, 2022.

Zee Media Bureau|

Updated:May 03, 2022, 04:10 PM IST

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LIC shares

On May 17, the LIC shares are expected to be launched on the BSE and NSE.

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Anchor investors

Anchor investors have committed to invest Rs 13,000 crore in the LIC IPO, more than twice the value of shares allotted to such investors.

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LIC IPO

The IPO was supposed to go live on March 31, but it was delayed due to unfavourable market circumstances caused by the Russia-Ukraine conflict.

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LIC policyholders

The reservation portion for LIC policyholders will be 10% of the offer size, while workers would have 5% of the post-offer equity share capital reserved.

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LIC employees

Policyholders will receive a Rs 60 discount, while LIC personnel applying for the public issue will receive a Rs 45 reduction.

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LIC IPO grey market premium

The grey market premium (GMP) for the LIC IPO - the price exchanged in the grey market before the IPO listing procedure – is Rs 85 today, up from Rs 69 yesterday.

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LIC investment

As a result, the LIC IPO requires a minimum investment of Rs 14,235 (i.e. Rs 949 x 15).

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LIC IPO applicants

LIC IPO applicants will be allowed to apply in lots of 15, with each lot containing 15 LIC shares. An applicant can apply for as little as 1 lot and as many as 14.

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LIC policyholders

Employees would receive around 15.81 lakh shares, while policyholders will receive approximately 2.21 crore shares.

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LIC IPO

The LIC IPO has a total value of Rs 21,000 crore, making it India's largest public offering to date.