IndiaLIC IPO price band fixed at Rs 902-949, policyholders will get Rs...

LIC IPO price band fixed at Rs 902-949, policyholders will get Rs 60 cheaper issue

In LIC's issue price, policyholders have been given a discount of Rs 60, while retail investors and employees have been given a discount of Rs 45 on the issue price.

LIC IPO: The price band of the country’s largest insurance company LIC’s IPO has been fixed on Tuesday. According to media reports, its price band has been fixed at Rs 902-949. The government is going to sell 3.5% stake in this issue. According to the information received so far, the issue of the company will open on May 4 and may close on May 9.

In the issue price of LIC, a discount of Rs 60 has been given to the policyholders. Whereas retail investors and employees have been given a discount of Rs 45 on the issue price.

LIC had submitted the draft with SEBI in February. Earlier the government was going to sell 5% stake in it but now it has been reduced to 3.5%. The board of LIC had approved on 23 April that the government can sell only 3.5% stake instead of the minimum 5%. The stake is about to be sold for Rs 21,000 crore. Accordingly, the total valuation of the company is Rs 6 lakh crore.

Read Also | LIC will become the countrys 5th largest market value company, after IPO there will be a market cap of ₹ 6 lakh crore

LIC’s management and investment bankers will conduct roadshows in 6 cities across the country. The cities where road shows will be held are Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot and Kolkata. Potential investors will be consulted in these cities.

LIC’s roadshow will end by the end of this week. Road shows were banned in the last two years due to coronavirus infection. But now the roadshow is starting with the issue of LIC.

Related Stories