LIC is the largest life insurer in India and was founded in 1956. LIC has been dealing with life insurance products for more than 65 years, and in the post-year 2000, it started covering various other segments. Being one of the trusted brands and having the most experienced and qualified management, LIC has a good record of profitable growth. Post the LIC IPO, LIC may become one of the top 5 most valuable Indian companies as per market capitalization. In this article, we will discuss the LIC IPO 2022 details.
As per the latest news, the Life Insurance Corporation of India is finally preparing to launch its long-awaited IPO. Yes, the LIC IPO will go live on May 4, 2022. For many reasons, this mega IPO was delayed for a few months. The IPO size has decreased as per the current situation. However, the government is now planning to sell a 3.5 percent stake in LIC, which will result in an INR 21,000 crore IPO. It will be the biggest IPO in Indian history, beating the PayTM IPO (INR 18,000 crore). Please find the below details on the LIC IPO:
|Issue Date||May 4th, 2022|
|Issue Date for Anchor Investor||May 2nd, 2022|
|Price Band||902-949 INR|
|Minimum Investment||INR 13,530/15 shares|
|Listing Date||May 17th, 2022 (Tentative)|
|IPO Closing date||May 9th, 2022|
In this LIC IPO, there are some attractive offers for LIC policyholders and employees. As per the offer, 10 percent of the IPO offer size will be reserved for the policyholders, wherein 5 percent of the post-offer equity share capital will be reserved for the employees.
There will also be a discount of 60 INR and 45 INR per share for the policyholders and employees/anchor investors, respectively.
How can policyholders apply for the LIC IPO 2022?
Eligibility Criteria are as below:
- Individuals with LIC policies before the date of filing the Draft Herring Prospectus (DRHP), i.e., February 13th, 2022.
- Last date of LIC Policy-Pan Link: February 28th, 2022
- Individuals covered by LIC Group policies are not eligible for the policyholder benefits in the IPO.
- To apply for the IPO, you must have a Demat account.
Other individual investors can apply for the IPO through Net-Banking or their Demat account directly. Few brokers, like Groww, provide the option to “Pre-apply” before two days of the IPO release date. You can visit their website or APP for more information on the same.
How to check share allotment?
To find out if your allotment for the applied shares or not, follow the below.
- Open the Official Link for BSE.
- Select the issue type (click Equity).
- Provide the issue name, IPO application number, and 10-digit PAN number.
- Search for the result.
– Anchor investors are those who have invested in the company before the release of the IPO.
– LIC IPO price band is 902-949 INR.
– Investors have to purchase a minimum of one lot, which will consist of 15 shares of LIC.
So, the minimum amount to be invested in this IPO is INR 13,530.
– Retail individual investors can invest up to INR 2,00,000 in an IPO.