Live
- In peak poll time, MVA allies target BJP-MahaYuti over 'washing machine politics' in Maharashtra
- PM Modi in Maha rally dares MVA leaders to make Congress praise Savarkar, Bal Thackeray's ideology
- Lee Carsley reveals no contact yet with incoming England Boss Thomas Tuchel
- Satyasai Vratams with Devotion
- Ashok Leyland registers 37 pc jump in Q2 net profit, declares dividend
- Vote for Mahayuti means people are with PM, says HM Shah in Maharashtra
- Neeraj Chopra to commence one month off-season training in South Africa later this month
- Grand Celebrations of CM Revanth Reddy’s Birthday
- Telangana Government Forms Cabinet Sub-Committee to Address Employee Issues
- Kishan Reddy Launches Kethineni Digitals: A New Era in the Digital Sector
LIC IPO: Subscribed 0.67 times on day 1; policyholders portion subscribed 1.99 times
Life Insurance Corporation of India IPO
The Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) was subscribed 0.67 times on the first day of bidding, i.e., Wednesday, April 4, 2022.
The Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) was subscribed 0.67 times on the first day of bidding, i.e., Wednesday, April 4, 2022. According to data from BSE, the company fetched bids for 10,86,91,770 equity shares as against the issue size of 16,20,78,067 shares.
Qualified Institutional Buyers (QIBs) portion of the issue was subscribed 0.33 times, while the Non-Institutional Investors and Retail Individual Investors (RIIs) were subscribed 0.27 times and 0.60 times, respectively. At the same time, the section reserved for employees was subscribed 1.17 times and policyholders by 1.99 times.
The country's largest life insurer's public issue will remain open for subscription till May 9, 2022. The allotment of shares to the Demat account of bidders will take place by May 16, 2022, and the IPO will list for trading on May 17, 2022.
LIC IPO is the biggest public offering in the country.
An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. LIC has fixed the price band of Rs 902 to 949 per Equity Share for its maiden public offer. Investors can bid for a minimum of 15 Equity Shares and in multiples of 15 shares thereafter. The LIC has offered a discount of Rs 45 per share to the Retail and Eligible Employee Category and Rs 60 per share to Policyholder Category.
With this IPO, the government is looking to divest its 3.5 per cent stake in the insurer by selling 22.13 crore equity shares. The Government aims to raise around Rs 21,000 crore through IPO.
LIC is recognized as the third-strongest and 10th most-valuable global insurance brand as per the Insurance 100 2021 report released by Brand Finance. LIC was also recognized by WPP Kantar as the second most valuable brand in India in the report BrandZ Top 75 Most Valuable Indian Brands for 2018, 2019 and 2020.
LIC has a diverse portfolio of insurance and investment products to cater to the needs of individuals. The company is well-placed owing to its distribution network of over 13 lakh agents, several partners and alternate channels, its trusted LIC brand value, and 65 years of lineage. Moreover, LIC is backed by its strong financial track record and experienced management team.
