LIC IPO Update: Great response to the India’s largest IPO

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LIC IPO Subscription: There is a good response from investors to LIC’s IPO and it was subscribed 2.94 percent by 9th May.

LIC ipo allotment
LIC IPO (moneycontrol.com)

LIC History

Life Insurance Corporation of India was founded in 1956 and has been providing life insurance in India for more than 65 years. It is the largest life insurance provider in India. It was the only life insurance company in India till 2000. LIC provides various insurance like life insurance, saving plans, term plans, housing loans, pensions products, etc. Last year (2021) profit was 2,974cr and strong agent network as well as a good track record. M.R Kumar is the current MD of LIC.

LIC IPO Subscription Update

Investors can begin subscribing to the country’s largest IPO as early as today, Monday, May 9th. The IPO of this company has received a strong reaction from investors, with an overall subscription rate of 2.94 percent. Today is the second day of the IPO, so find out how the performance of this IPO is looking for investors.

Know LIC’s subscription data till 7 pm

Qualified Institutional Buyers (QIBs) had subscribed 283 percent of the LIC’s IPO until 7: 00 p.m. today, while individual investors had subscribed 1.97 percent. Employees’ shares have been subscribed 4.36 times, while policyholders’ shares have been subscribed 6.06 times. Non-institutional investors account for 291% of all investors. As a result, by 7:00 p.m. this evening, the entire subscription to the LIC IPO had reached 2.94 percent.

Know special things about LIC IPO

The government anticipates raising Rs 21,000 crore from the LIC IPO. They are going to sell their 3.5 percent stake in LIC. The price range for the initial public offering is Rs 902 to 949 per share. The face value of IPO is Rs 10.

What is the price band?

The business has set the IPO price band at Rs 902-949 per share. In one lot, customers will receive 15 shares. Let us say that the corporation would give its employees a discount of Rs 45 per share, and policyholders will receive a discount of Rs 60 per share.

A man in front of lic poster (Reuters)

Price Range for employees, the policyholder, and retail customers

If you are a policyholder, the price range will be 842-889 (at a 60rs discount).
If you are an employee, the price range will be 857-904 (at a 45rs discount).
If you are a retail customer and do not meet the above category, the price range will be 902-949.

LIC IPO Grey Market Premium (GMP) & Kostak Rates

Gmp is decreasing day by day. According to the latest gmp expected return is 5%.

IPO Allotment and listing date

IPO opening date is 4th May and closing date is 9th May. Allotment date is fixed on 12th May and refund will be initiated on 13th May.If you are lucky, you will receive share in your demat account on 16th May as well as IPO listing date is decided on 17th May 2022.

What people are saying about IPO

FAQ

What is the current LIC IPO GMP?
The LIC IPO GMP, also known as the grey market premium, is 30.

What are the current Kostak Rates for the LIC IPO?
0 rupees is the kostak rate.

What is the current LIC IPO subject to the Sauda Price?
Ans: The IPO with sauda rates is priced at Rs 0.

Returns on the IPO?
The projected return on the LIC is 3%.

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