The stock market debut of Life Insurance Corporation of India was on Tuesday at Rs 865 per share, which is around 9% lower than the issue price of Rs 949 per share.&nbsp;

LIC shares began trading on the BSE at Rs 867.20. The stock was trading at Rs 881.75 on the BSE at 11:12 a.m. In the early session, the stock hit a high of Rs 920.

Speaking on the occasion at BSE, Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said, "This is a momentous event. LIC IPO is in line with the Prime Minister`s vision. India is one of the most important emerging markets and it will be one of the fastest-growing economies in this decade."

"LIC Act was amended for the listing of IPO. Given the unprecedented size of the IPO, special measures have been taken. Special drives were carried out to spread awareness for the policyholders. People enthusiastically participated and 73 lakh applications were received, a record, and possibly the largest in the world ever while 50 lakh demat accounts were opened since then," said Pandey.

Watch | LIC's mega IPO gets an extra day for subscription

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Kaku Nakhate, the president and country head of Bank of America, said, "We take pride to be associated with it. It is the first insurance IPO in India. 7.3 million applications were received for the IPO."&nbsp;

LIC's initial public offering was 2.95 times oversubscribed. The initial public offering (IPO) began on May 4 and ended on May 9. In the grey market, LIC shares received a premium of Rs 8 to Rs 12 per share during the IPO subscription period.

According to grey market data, LIC shares would list approximately Rs 15 to 20 below their issue price, but policyholders and workers will still profit because they received discounts. The country's largest insurer, LIC, has set a price range of Rs 902 to Rs 949 per equity share for its Initial Public Offering (IPO).&nbsp;

The issue price is Rs 949 per share because the IPO is completely subscribed. Policyholders received a Rs 60 reduction per equity share, while retail investors and employees received a Rs 45 discount on each share.

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The stock market debut of Life Insurance Corporation of India was on Tuesday at Rs 865 per share, which is around 9% lower than the issue price of Rs 949 per share.

The stock market debut of Life Insurance Corporation of India was on Tuesday at Rs 865 per share, which is around 9% lower than the issue price of Rs 949 per share. LIC shares began trading on the BSE at Rs 867.20. The stock was trading at Rs 881.75 on the BSE at 11:12 a.m. In the early session, the stock hit a high of Rs 920. Speaking on the occasion at BSE, Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said, "This is a momentous event. LIC IPO is in line with the Prime Minister`s vision. India is one of the most important emerging markets and it will be one of the fastest-growing economies in this decade." "LIC Act was amended for the listing of IPO. Given the unprecedented size of the IPO, special measures have been taken. Special drives were carried out to spread awareness for the policyholders. People enthusiastically participated and 73 lakh applications were received, a record, and possibly the largest in the world ever while 50 lakh demat accounts were opened since then," said Pandey. Watch | LIC's mega IPO gets an extra day for subscription Kaku Nakhate, the president and country head of Bank of America, said, "We take pride to be associated with it. It is the first insurance IPO in India. 7.3 million applications were received for the IPO." LIC's initial public offering was 2.95 times oversubscribed. The initial public offering (IPO) began on May 4 and ended on May 9. In the grey market, LIC shares received a premium of Rs 8 to Rs 12 per share during the IPO subscription period. According to grey market data, LIC shares would list approximately Rs 15 to 20 below their issue price, but policyholders and workers will still profit because they received discounts. The country's largest insurer, LIC, has set a price range of Rs 902 to Rs 949 per equity share for its Initial Public Offering (IPO). The issue price is Rs 949 per share because the IPO is completely subscribed. Policyholders received a Rs 60 reduction per equity share, while retail investors and employees received a Rs 45 discount on each share. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Life Insurance Corporation makes stock market debut at 9 per cent discount

The initial public offering (IPO) of Life Insurance Corporation of India (LIC) dominated headlines for a number of days and it is already the biggest IPO in the history of the Indian capital&nbsp;market.

After the initial IPO, the share allotment will be carried out on May 12. The IPO subscriptions started on May 4 and by the time it ended on May 9, it was reported that the IPO was oversubscribed around 2.95 times – a fact that surprised a number of experts despite high expectations from the offering.

With the help of the LIC IPO, the central government was reportedly looking to raise Rs 21,000 crore and apart from the policyholders, a lot of interest was also noticed from the Qualified Institutional Buyers.

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According to BSE data, 11.20 crore bids were received for the 3.95 crore shares.

The IPO was priced between INR 902-949 per equity share ahead of the offering.

According to the timeline presented by the authorities, the money will be returned to unsuccessful bidders on May 13 while the equity shares will be sent to the successful bidders on May 16. The official trading of the LIC stocks in the equity market is expected to start from May 17.

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In another major development, the Supreme Court of India made it clear that they will not be interfering with the IPO and share allotment after petitions were filed against the process.

The court said that the changes made to the LIC Act is a question "that needs further reconsideration” but decided to not make any changes in the IPO process.

Here's how the users can check their&nbsp;LIC IPO allotment status -&nbsp;

Login at the direct BSE link - bseindia.com/investors/appli_check.aspx

Select the LIC IPO from the drop box

Enter the LIC IPO application number

Enter the user's PAN details

Click on the 'I'm not a robot' option

Click 'submit'

The initial public offering (IPO) of Life Insurance Corporation of India (LIC) dominated headlines for a number of days and it is already the biggest IPO in the history of the Indian capital market.

The initial public offering (IPO) of Life Insurance Corporation of India (LIC) dominated headlines for a number of days and it is already the biggest IPO in the history of the Indian capital market. After the initial IPO, the share allotment will be carried out on May 12. The IPO subscriptions started on May 4 and by the time it ended on May 9, it was reported that the IPO was oversubscribed around 2.95 times – a fact that surprised a number of experts despite high expectations from the offering. With the help of the LIC IPO, the central government was reportedly looking to raise Rs 21,000 crore and apart from the policyholders, a lot of interest was also noticed from the Qualified Institutional Buyers. Also read | 'One of a kind': UK man sells single 'extremely rare' potato chip for £2,000 According to BSE data, 11.20 crore bids were received for the 3.95 crore shares. The IPO was priced between INR 902-949 per equity share ahead of the offering. According to the timeline presented by the authorities, the money will be returned to unsuccessful bidders on May 13 while the equity shares will be sent to the successful bidders on May 16. The official trading of the LIC stocks in the equity market is expected to start from May 17. Also read | To end contempt order, US judge tells Trump to meet conditions, pay $110,000 In another major development, the Supreme Court of India made it clear that they will not be interfering with the IPO and share allotment after petitions were filed against the process. The court said that the changes made to the LIC Act is a question "that needs further reconsideration” but decided to not make any changes in the IPO process. Here's how the users can check their LIC IPO allotment status - Login at the direct BSE link - bseindia.com/investors/appli_check.aspx Select the LIC IPO from the drop box Enter the LIC IPO application number Enter the user's PAN details Click on the 'I'm not a robot' option Click 'submit'

LIC IPO share allotment today: Everything you need to know about the process

As per a stock exchange filing, Life Insurance Corp's (LIC) largest-ever initial public offering (IPO) was oversubscribed 2.95 times as six days of bidding ended on Monday.

However, foreign institutional investors (FII) have been cautious about the IPO, according to an Indian government official.

"Predominantly this issue has been domestically lifted," &nbsp;said Tuhin Kanta Pandey, secretary of India's Department of Investment and Public Asset Management, (DIPAM).

Watch |&nbsp;Gravitas | LIC IPO: All you need to know

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As per a report by Bloomberg, foreign institutional investors have mostly avoided India's largest share sale, finding it too expensive in light of currency uncertainties and the global market environment.

However, in the final hours before the subscription deadline on Monday, FII's pushed up their offers for India's largest share sale.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/lic-ipo-opens-on-may-4-perks-price-and-other-details-475671">LIC IPO opens on May 4: Perks, Price and other details</a>

Citing data from the exchanges, Bloomberg reports that overseas investors placed orders for 61 per cent of the shares set aside for institutional purchasers in the $2.7 billion initial public offerings.

According to Bloomberg, the lack of international investor interest contrasts sharply with several of last year's Indian IPOs like &nbsp;One97 Communications Ltd., which controls, digital payments business Paytm, and Zomato Ltd., a food delivery company.

While overseas investors only started to come in on the last day, retail buyers have been pouring in since the issue went on sale.

The subscription has been driven by policyholders. The segment allocated for policyholders has been subscribed over 6.12 times. Bids worth Rs 12,034 crore have been submitted by policyholders. Employees' shares were subscribed 4.4 times, while retail individual investors' shares were subscribed 2 times.

(With inputs from agencies)

​​​​​​​

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&nbsp;

As per a stock exchange filing, Life Insurance Corp's (LIC) largest-ever initial public offering (IPO) was oversubscribed 2.95 times as six days of bidding ended on Monday.

As per a stock exchange filing, Life Insurance Corp's (LIC) largest-ever initial public offering (IPO) was oversubscribed 2.95 times as six days of bidding ended on Monday. However, foreign institutional investors (FII) have been cautious about the IPO, according to an Indian government official. "Predominantly this issue has been domestically lifted," said Tuhin Kanta Pandey, secretary of India's Department of Investment and Public Asset Management, (DIPAM). Watch | Gravitas | LIC IPO: All you need to know As per a report by Bloomberg, foreign institutional investors have mostly avoided India's largest share sale, finding it too expensive in light of currency uncertainties and the global market environment. However, in the final hours before the subscription deadline on Monday, FII's pushed up their offers for India's largest share sale. Also read | LIC IPO opens on May 4: Perks, Price and other details Citing data from the exchanges, Bloomberg reports that overseas investors placed orders for 61 per cent of the shares set aside for institutional purchasers in the $2.7 billion initial public offerings. According to Bloomberg, the lack of international investor interest contrasts sharply with several of last year's Indian IPOs like One97 Communications Ltd., which controls, digital payments business Paytm, and Zomato Ltd., a food delivery company. While overseas investors only started to come in on the last day, retail buyers have been pouring in since the issue went on sale. The subscription has been driven by policyholders. The segment allocated for policyholders has been subscribed over 6.12 times. Bids worth Rs 12,034 crore have been submitted by policyholders. Employees' shares were subscribed 4.4 times, while retail individual investors' shares were subscribed 2 times. (With inputs from agencies) Watch WION LIVE HERE:

Policyholders lead subscription of India's biggest IPO LIC, while foreign investors shun it

The largest initial public offering (IPO) in India, Life Insurance Corporation (LIC), opened for subscription today.

The IPO's price range is Rs 902-949, with policyholders receiving a Rs 60 discount and retail investors and employees receiving a Rs 45 discount.

The government's 3.5 percent share in LIC will be sold in an initial public offering (IPO) on May 9 to raise Rs 205 billion.

Reserved LIC IPO Portions

The IPO is wholly a government offer-for-sale of 221,374,920 equity shares, with the government receiving the entire profits.

Up to 1,581,249 units are reserved for employees, and up to 22,137,492 units are reserved for policyholders, out of the total number of shares on the block.

Qualified institutional buyers will receive 50% of the net offer, retail investors will receive 35%, and non-institutional investors will receive 15%.

<a href="https://www.wionews.com/business-economy/lic-ipo-opens-on-may-4-perks-price-and-other-details-475671">Also read | LIC IPO opens on May 4: Perks, Price and other details</a>

Here are ten things you should be aware of:&nbsp;

1: The LIC IPO has a price range of Rs 902-949 per equity share.

2: LIC policyholders will receive a Rs 60 discount per equity share, while retail investors and employees will receive a Rs 45 reduction.

3: At the upper end of the offering price, investors can bid for a minimum of 15 shares (one lot) for Rs. 14,235.

4: On May 17, LIC shares will be offered on stock exchanges.

5: By dissolving a 3.5 percent share in LIC, the government hopes to generate Rs 210 billion.

6: The valuation for an IPO would be the greatest in the Indian market's history. Previously, the greatest fundraises were observed in the Paytm IPO last year, which raised Rs 183 billion, and Coal India, which raised Rs 152 billion in 2010.

7: The LIC has contacted policyholders via SMS and other means to inform them of the stock sale.

8: For several months, LIC has been alerting the public about the IPO through numerous platforms, including print and television commercials.

9: Due to the current market conditions, the country's largest insurer cut the size of its IPO from 5% to 3.5 percent.

10: On September 1, 1956, LIC was created by merging and nationalising 245 private life insurance companies, with an initial capital of Rs 50 million.

The largest initial public offering (IPO) in India, Life Insurance Corporation (LIC), opened for subscription today. The IPO's price range is Rs 902-949, with policyholders receiving a Rs 60 discount and retail investors and employees receiving a Rs 45 discount.

The largest initial public offering (IPO) in India, Life Insurance Corporation (LIC), opened for subscription today. The IPO's price range is Rs 902-949, with policyholders receiving a Rs 60 discount and retail investors and employees receiving a Rs 45 discount. The government's 3.5 percent share in LIC will be sold in an initial public offering (IPO) on May 9 to raise Rs 205 billion. Reserved LIC IPO Portions The IPO is wholly a government offer-for-sale of 221,374,920 equity shares, with the government receiving the entire profits. Up to 1,581,249 units are reserved for employees, and up to 22,137,492 units are reserved for policyholders, out of the total number of shares on the block. Qualified institutional buyers will receive 50% of the net offer, retail investors will receive 35%, and non-institutional investors will receive 15%. Also read | LIC IPO opens on May 4: Perks, Price and other details Here are ten things you should be aware of: 1: The LIC IPO has a price range of Rs 902-949 per equity share. 2: LIC policyholders will receive a Rs 60 discount per equity share, while retail investors and employees will receive a Rs 45 reduction. 3: At the upper end of the offering price, investors can bid for a minimum of 15 shares (one lot) for Rs. 14,235. 4: On May 17, LIC shares will be offered on stock exchanges. 5: By dissolving a 3.5 percent share in LIC, the government hopes to generate Rs 210 billion. 6: The valuation for an IPO would be the greatest in the Indian market's history. Previously, the greatest fundraises were observed in the Paytm IPO last year, which raised Rs 183 billion, and Coal India, which raised Rs 152 billion in 2010. 7: The LIC has contacted policyholders via SMS and other means to inform them of the stock sale. 8: For several months, LIC has been alerting the public about the IPO through numerous platforms, including print and television commercials. 9: Due to the current market conditions, the country's largest insurer cut the size of its IPO from 5% to 3.5 percent. 10: On September 1, 1956, LIC was created by merging and nationalising 245 private life insurance companies, with an initial capital of Rs 50 million.

India's largest IPO, LIC, opens for subscription: 10 things to know

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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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.

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. WATCH WION LIVE HERE

LIC IPO opens on May 4: Perks, Price and other details

The initial public offering (IPO) of the Life Insurance Corporation (LIC) will open for the anchor investors on May 2 and the general public will be offered the IPO from May 4 to May 9.

The announcement was made by LIC in their press conference on Wednesday.

LIC chairman MR Kumar called the public issue ‘LIC 3.0’ and said that it will open between INR 902 to INR 949. Policyholders will be given an INR 60 discount and retail investors will get INR 45 discount.

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LIC is also expected to be listed on the stock exchanges on May 17.

DIPAM secretary Tuhin Kanta Pandey confirmed that the LIC IPO will be the biggest initial public offering in the history of the Indian market but also pointed out that the size of the IPO is perfect for the market considering the constraints and the long-term goals as a prominent value creator.

"This (LIC IPO) is right sized, considering the capital market environment and will not crowd out capital supply given the current market environment," Pandey said according to a PTI report.

According to the report, the Indian government will sell around 3.5 percent of its stake in LIC for INR 21,000 crores which will mean that LIC will be valued at INR 6 lakh crore.

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"Valuation reported was speculative. It is neither being undervalued or overvalued. Valuation process is a discovery process. Its embedded value is difficult to decipher even for us. This (3.5% for INR 21,000 crore) is a fair and attractive valuation," Pandey was quoted as saying.

The government was supposed to sell its stakes in March 2022, but it was delayed due to the ongoing Russia-Ukraine crisis. The Indian markets have somewhat recovered from the jolts of COVID-19 pandemic and the listing of LIC in the stock market is expected to stabilise the situation even more.

WATCH |&nbsp;India's coal reserves fall. What does it mean?

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The initial public offering (IPO) of the Life Insurance Corporation (LIC) will open for the anchor investors on May 2 and the general public will be offered the IPO from May 4 to May 9.

The initial public offering (IPO) of the Life Insurance Corporation (LIC) will open for the anchor investors on May 2 and the general public will be offered the IPO from May 4 to May 9. The announcement was made by LIC in their press conference on Wednesday. LIC chairman MR Kumar called the public issue ‘LIC 3.0’ and said that it will open between INR 902 to INR 949. Policyholders will be given an INR 60 discount and retail investors will get INR 45 discount. Also read | Musk criticises Twitter's censorship lawyer Gadde after buying the platform LIC is also expected to be listed on the stock exchanges on May 17. DIPAM secretary Tuhin Kanta Pandey confirmed that the LIC IPO will be the biggest initial public offering in the history of the Indian market but also pointed out that the size of the IPO is perfect for the market considering the constraints and the long-term goals as a prominent value creator. "This (LIC IPO) is right sized, considering the capital market environment and will not crowd out capital supply given the current market environment," Pandey said according to a PTI report. According to the report, the Indian government will sell around 3.5 percent of its stake in LIC for INR 21,000 crores which will mean that LIC will be valued at INR 6 lakh crore. Also read | Kerala becomes latest Indian state to make wearing masks in public mandatory "Valuation reported was speculative. It is neither being undervalued or overvalued. Valuation process is a discovery process. Its embedded value is difficult to decipher even for us. This (3.5% for INR 21,000 crore) is a fair and attractive valuation," Pandey was quoted as saying. The government was supposed to sell its stakes in March 2022, but it was delayed due to the ongoing Russia-Ukraine crisis. The Indian markets have somewhat recovered from the jolts of COVID-19 pandemic and the listing of LIC in the stock market is expected to stabilise the situation even more. WATCH | India's coal reserves fall. What does it mean?

LIC IPO to open to general public on May 4, expected to be biggest in India despite reduced offer size

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