LIC has fixed the price band at Rs 902-949 per equity share for the issue.
New Delhi: LIC’s Initial public offer (IPO) opened for subscription for retail and institutional investors on Wednesday, May 4. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. Touted to be the country’s biggest-ever IPO, it is set to close on May 9.
LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share.
Read More: LIC IPO Opens Today: Should Policyholders Subscribe? All you Need to Know
In order to apply for the LIC IPO, both investors as well as LIC policyholders must have a DEMAT account. Various brokerage apps and firms are giving this facility so that you can book the LIC IPO.
For online application of LIC IPO, here is what you can do
– Visit the app you have chosen for your DMAT account and go to your profile
– Land up at the IPO section
– Choose your LIC IPO tab and select LIC Policyholder
– Feed in the details of your depository and bank account
– Now enter a bid price and choose the number of shares you want
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– Now press the submit/ apply option
– Complete the payment option by — online or UPI payment mode to buy LIC IPO
As of December 2021, LIC had a market share of 61.6 per cent in terms of premiums or GWP, 61.4 per cent in terms of new business premium, 71.8 per cent in terms of the number of individual policies issued, and 88.8 per cent in terms of the number of group policies issued.
