LIC IPO To Open on May 4 – Here’s Everything You Need to Know
The LIC IPO is finally here! LIC filed DRHP (Draft Red Herring Prospectus) with SEBI and has received a green nod. LIC submitted the RHP (Red Herring Prospectus) on April 27.
Savart Trivia: DRHP is a preliminary registration document which includes information about the company’s business, operations, and operator. RHP is an enhanced version of DHRP, that includes information such as IPO date, issue price and updated financial information.
The public issue of LIC is likely to open on May 4 and remain open until May 9, as per the reports.
The Union Government currently owns a 100 per cent stake and is planning to sell 3.5 per cent (it was 5% earlier). The government plans to raise an amount of INR 21,000 crore through the public issue.
LIC IPO opening date May 4 for retail investors, May 2 for anchor investors
LIC IPO closing date May 9
LIC IPO price: The price band is INR 902 – 949
LIC IPO allotment date May 12
LIC listing date May 17.
LIC IPO valuation: The insurer is expecting to sell a 3.5% stake in this IPO at a valuation of INR 21000 Cr. The government is targeting a valuation of INR 6 Lakh Cr for the insurer.
Retail Discount – INR 45 per share
Employee Discount – INR 45 per share
To know whether you should invest in the LIC IPO, reach out at Savart.
To know how to apply for the LIC IPO, read this.
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