An exterior view of Life Insurance Corporation of India's (LIC) headquarters is seen in Mumbai. Photograph:( Reuters )
India's biggest initial public offer (IPO) by the State-owned Life Insurance Corporation (LIC) is all set to open on May 4 and will close its subscription on May 9.
This week, the Life Insurance Corporation of India (LIC) will launch its initial public offering (IPO).
According to information on the BSE website, the LIC IPO subscription will commence on May 4th, 2022, and will stay up for bidding until May 9th, 2022.
The Rs 210 billion public offering is entirely OFS (Offer for Sale), with the Government of India (GoI) setting the price band at Rs 902 to Rs 949 per equity share.
According to market experts, LIC shares are currently trading at a premium of Rs92 in the grey market.
According to persons familiar with the situation, significant investors have bid for twice the size of the anchor book in the Life Insurance Corporation of India's initial public offering.
On Monday, the anchor book for the country's largest public offering of 210 billion rupees will be announced, with a value of 56 billion rupees ($733 million).
The following are key LIC IPO details:
GMP of LIC IPO: According to market experts, the GMP of the LIC IPO today is Rs 92, which is 20 higher than the GMP of Rs 72 per equity share on Friday evening.
Date: The public issue will begin on May 4th, 2022, and will be up for bidding until May 9th, 2022.
Price: The Government of India has set the price range for the LIC IPO at Rs 902 to Rs 949 per equity share.
IPO Size: The Government of India expects to raise Rs 210 billion from this public offering.
IPO lot size: Bidders will be able to apply in lots, with each LIC IPO lot containing 15 shares.
IPO application limit: One bidder can apply for a minimum of one lot, with a maximum of fourteen lots authorised for a single bidder.
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