LIC IPO: What Should You Know Today?

LIC IPO: The government has termed the response to the IPO as 'tremendous'. According to reports, the LIC IPO GMP today is Rs 16 per equity share.

LIC IPO | New Delhi: The last date of application for the LIC IPO saw an increased interest by the retail investors in the IPO. The LIC IPO was subscribed nearly 3 times. The application remained open for 6 days, starting May 4. The foreign investors did not show much interest in the IPO. However, the government stated that the issue was an example of ‘Atmanirbhar Bharat.’

According to a report by Mint, DIPAM Secretary Tuhin Kanta Pandey said that the response to LIC IPO was ‘tremendous’. The allotment of the issue is expected to take place on May 12, 2022. If the shares are allotted, the shares will be credited to the Demat account of the investors by May 16. The listing is expected to take place on May 17.

According to reports, the policyholders have subscribed to their quota by over 6 times. The investment by retail investors picked up on the last day of application. The quota of employees has also been oversubscribed by nearly 5 times.

LIC IPO GMP

According to Mint, the LIC IPO GMP was Rs 16 per share on Tuesday. This was Rs 85 at the start of the LIC IPO application. The shaky global markets, rising oil prices, rate hikes by the central banks and the falling value of the rupee against the dollar are some of the reasons for the fall in GMP.

The government aims to raise Rs 21,000 through the public offer. For this, they are selling a 3.5 per cent stake, down from the earlier 5 per cent. The price band has been fixed at Rs 902-949 per equity share.