IPO IPO: The wait on Dalal Street is almost over with the initial public offering (IPO) of India’s largest insurance company, Life Insurance Corporation (LIC), which opens tomorrow, May 4. due to strong demand. Meanwhile, the main issue of LIC IPO will open tomorrow, with investors of all categories looking forward to investing in the issuance. The company has also maintained a separate policyholder quota for the first time, giving those eligible individuals a 10 percent reserved share and a discount when buying LIC stock.
What is the IPO of Life Insurance Corporation of India?
Life Insurance Corporation of India IPO or LIC IPO is the insurance giant’s first share sale. The entire offering is an offer for sale (OFS), under which the President of India will transfer a 3.5 percent stake in the company through the Ministry of Finance. The LIC IPO is expected to yield Rs 21,000 crore at the high end of the price band, and will be a key factor for the government to meet its divestment targets. The LIC IPO price band has been set at Rs 902 to Rs 949 per share of the share.
When will LIC IPO open for enrollment?
The mega LIC IPO will open for registration on Wednesday 4 May, so tomorrow. Anchor investors have already booked the issue as it was oversubscribed with bids over Rs 7,000 crore. Anchor booking open on May 2nd. The LIC IPO can be bid until 9 May.
How to apply for LIC IPO?
Investors and LIC policyholders must have a demat account to apply for the LIC IPO. They can use various brokerage apps such as Groww, Upstox and Zerodha, or use another Depository Participant (DP) platform to book the issuance.
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Here’s a step-by-step guide:
-Log in to the relevant portal after opening the demat account
-When you’re done, go to your profile on the DP’s platform. While the navigation process may vary from platform to platform, you might want to check out the IPO section here
– Now select the LIC IPO tab and select the category you wish to bid on – in this case LIC policyholder. Fill in your deposit and bank account details now
-When you’re ready, enter a bid price and the number of shares you want to apply for
-Please read the terms carefully and click the Submit/Apply option
-After this you will receive an authorization from the participating bank on your UPI app which you must confirm. Now complete the payment option by using UPI or any other online payment option to buy LIC IPO shares
ALSO READ: LIC IPO listing, price range, policyholder discount; Key details investors should know
LIC IPO GMP today
Unlisted shares of LIC are trading on the gray market today at a premium of Rs 85, according to IPO Watch. This means that at the high end of the price band, LIC shares are trading at Rs 1,034 (Rs 949 + Rs 85) as LIC IPO GMP today is Rs 85, which is about 9 percent higher than the issue price.
LIC IPO: how do I receive shares?
You will receive LIC IPO shares on the day the shares are allocated. This date has not yet been confirmed. If the issuance is oversubscribed, there will be a Sebi mandated process through which bidders will receive LIC shares.
How to Check LIC IPO Assignment Status?
While the company has not confirmed anything yet, the IPO share allocation is normally visible on the BSE and Registrar’s website.
When is the LIC IPO listing date?
LIC IPO listing date is on May 17, 2022. The song will debut on both BSE and NSE.
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