Indian's biggest and most awaited IPO, IPO of LIC opens for subscription on 4th May 2022. YES! The dates and the time table of LIC IPO is out now. The issue of LIC IPO opens for subscription on 4th may 2022 and this issue will continue till the 9th May 2022. The Price band for the IPO is Rs.902 to Rs.949. And the issue size is Rs. 21,000Cr. upper price band. The listing date for IPO of LIC is 17th May 2022.
Further, it specifies for the LIC IPO,
- 35% of the issue will be reserved for retail investors.
- 5 % will be reserved for LIC employees.
- 10% of the public issue will remain reserved for it's policyholders.
According to this, the policyholders will be able to apply through retail and the policyholder category. Yet, there are eligibility criteria for the policyholder that we will see later. First, let's see the important details of LIC IPO Date and Price.
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LIC IPO Date, Price, and other important details
|IPO Opening Date||4th May 2022|
|IPO Closing Date||9th May 2022|
|Price Range||Rs. 902 - Rs.949|
|Issue size||Rs. 21,000 Cr (Upper Price Band)|
|Post issue Implied Market Cap||Rs 6,00,242 Cr.|
What are the dates for IPO of LIC:-
- LIC IPO opens for subscription on 4th May 2022 and the issue will continue till 9th May 2022 .
What is the Policyholder category in LIC IPO?
- The Policyholder category is a new category introduced for the LIC IPO. Customers who have LIC policies will be eligible for up to 10% of the issue in this category. To apply for the policyholder category, you must meet the eligibility requirements.
What are the eligibility criteria for LIC Policyholders to apply for LIC IPO?
- Policyholders who purchased a LIC policy on or before February 13, 2022, will be entitled to apply under this category.
- Those who purchased a LIC policy after February 13 will not be eligible for the 10% quota for policyholders.
How the LIC policyholders can apply for the IPO of LIC:
- Everyone can apply for the LIC IPO. So how being a policyholder will benefit you? So, From the total size of the IPO, 10% of the portion is reserved for the LIC policyholders. If you are the policyholder and you are applying for this IPO than there are good chances of getting an allotment. So if you are the LIC policyholder and you are willing to apply for this IPO than this paragraph is especially for you.
- PAN details of the policyholder should be updated on the LIC portal.
- Policyholders should have a demat account.
What are the perks for LIC Policy Holders?
“Up to 10% reservation can be offered to policyholders of LIC.”
-Dipam secretary Tuhin Kanta Pandey told TOI in an interview.
Offer size for the IPO of LIC India?
- The offer size of the IPO of LIC would range somewhere between Rs. 70,000 crores to Rs. 1 lakh crores. However, the Finance Ministry, during the budget presentation, stated that the government was expecting to raise to Rs. 90,000 crores through the stake sale of LIC and IDBI Bank.
What is LIC valued at?
- As per some recent media reports, the Narendra Modi government plans to raise Rs 90,000 crore by selling a six to seven percent stake in LIC. LIC's value is around Rs 12.85-15 lakh crore, making it India's second most valued company after Reliance Industries Limited (RIL).
- The price and other financial information will be available once the DRHP has been filed by the company. It is going to be one of the largest and most keenly awaited IPO in the coming fiscal.
How to apply for the IPO of LIC?
We value your time that's why just click here and you'll be redirected to our IPO Investment Portal and with a few clicks, you'll be able to subscribe for the LIC India IPO.