The share allotment of Life Insurance Corporation of India (LIC) will be completed on Thursday, May 12, after the public offer of cr 21,000. 2.95 has been registered. The LIC IPO has received a healthy response from investors as the offering has subscribed 2.95 times with bids received for 47.83 crore shares against a LIC IPO size totaling 16.2 crore shares as the six-day registration came to an end. The portion reserved for policyholders has been subscribed 6.11 times, employees bid 4.39 times the allocated quota and retail investors 1.99 times, while the reserved portion of qualified institutional buyers has booked 2.83 times and that of non-purchasers. institutional investors 2.91 times. LIC’s shares will be listed on BSE and NSE on 17 May. The allotment of the shares of LIC can be completed on 12 May.
The initiation of redemptions or unblocking of funds from the ASBA account will take place on May 13, and the shares will be credited to the deposit accounts of the allotments on May 16. The LIC IPO investors can check the IPO allocation status through NSE and the registrar’s websites. The registrar of the issue is KFin Technologies, an SEBI registered entity, which is responsible for IPO allocation and refund processing. With its IPO, LIC has become the largest ever on Dalal Street and has taken over the public issuance of Paytm that appeared last year. By 2021, Paytm had raised Rs 18,300 crore through the IPO, other major issues on Dalal Street include Coal India at nearly Rs 15,500 crore in 2020, and Reliance Power at Rs 11,700 crore, which came in 2008.
Check LIC Share assignment status through registrar KFin Technologies website
-If you want to check the status of the share allotment, please select the company name as ‘LIC — IPO’ from the drop-down list on Link Intime India website when prompted.
-Check the PAN, Application Number or Custodian/Client ID box. Therefore, enter the permanent account number or application number or depositary/client ID in the box.
-Enter the given captcha in the space provided and click the submit button.
-Displays the number of shares applied and allocated to the investor.
Here’s How To Check LIC IPO Share Assignment Status On NSE
-Go to NSE official website — https://www.nseindia.com/
-Go to the “Stocks” option and select “LIC IPO” from the drop-down menu.
-Enter your application and PAN Card number.
-Complete the “I am not a robot” verification and access your LIC IPO share assignment status.
To check the allocation of the LIC IPO shares on BSE, follow the same procedure here: https://www.bseindia.com/
LIC IPO GMP today
A trader who declined to be named said at the peak that the LIC GMP was Rs 93-95 per share and then it started to go downhill. It traded between Rs 8 and Rs 10 per share on May 5. On May 6 and 10, it was highly volatile, with a downward trend, he said. From Rs 8-9 per share, it fell to negative Rs 15 per share on Wednesday, he added.
The GMP has steadily fallen from its peak amid concerns about a lukewarm response from foreign investors. The IPO was mainly subscribed to private and domestic institutional buyers. The participation of foreign investors was muted.
The government, which raised Rs 20,500 crore from the sale of 3.5 percent of its stake in the country’s largest insurer, said the matter was an example of ‘Atmanirbhar Bharat’ (Subsistence India) and the issue saw interest from a cross section of investors. Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey called the response to the IPO “amazing”, adding that all categories of investors participated well in the issuance.
LIC was formed by merging and nationalizing 245 private life insurance companies on September 1, 1956, with a seed capital of Rs 5 crore. The product portfolio includes 32 individual plans (16 participating and 16 non-participating) and seven individual optional rider benefits. The insurer’s group product portfolio includes 11 group products.
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