LIC IPO | New Delhi: Life Insurance Company (LIC) has announced the listing price of its shares. According to a report by Economic Times (ET), the issue price has been fixed at Rs 949 per share. The shares are expected to list on the bourses on May 17, 2022. Earlier, the government had fixed the price band at Rs 902-949 per equity share.Also Read - Sensex Crashes Over 1,000 Points In Early Trade, Nifty Under 16,000; LIC Shares Fall Below Listing Price

The LIC IPO saw high demand from domestic investors. It was subscribed 2.95 times. The bid was mainly led by policyholders, employees and retail investors. Foreign investors, however, did not respond well to the issue. According to the report, the issue received the highest number of applications in the history of Indian markets. Before this, Reliance Power had received 4.8 million applications. LIC IPO received 7.3 million bids for 478.3 million shares. Also Read - Sensex Closes 1,344 Points Higher, Nifty Above 16,200; LIC Closes 8 Per Cent Below Share Price

The LIC IPO share allotment was announced on Thursday, May 12. The initiation of refunds will be activated from Friday, May 13. The company expects to raise Rs 21,000 crore from the investors by selling the government’s 3.5 per cent stake in it. Also Read - Who Is SS Mundra, New Chairman Of BSE?

LIC IPO: Price Band, Face Value, Other Details

  • LIC IPO price: The price has been fixed at Rs 949 per equity share by the government of India.
  • LIC IPO size: The government aims to raise around Rs 21,000 crore from the IPO, making it the biggest IPO India has ever seen.
  • LIC IPO lot size: One lot of LIC IPO comprises 15 LIC shares.
  • LIC IPO application limit: One bidder could apply for a minimum of one lot whereas the maximum number of lots that were allowed for a single bidder was 14.
  • LIC IPO investment limit: Minimum amount required to apply for the LIC IPO was Rs 14,235. The maximum amount allowed for a single retail investor was Rs 1,99,290.
  • Discount for LIC policyholders: Policyholders got a discount of Rs 60 per equity share in the IPO.
  • Discount for LIC employees: LIC employees and agents got a discount of Rs 45 per equity share.
  • LIC IPO allotment date: The LIC IPO allocation was announced on May 12, 2022.
  • LIC IPO listing: Shares of LIC will likely list on BSE and NSE on May 17, 2022.
  • LIC IPO registrar: KFin Technologies Limited is the official registrar of LIC IPO.