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LIC IPO News: 67 percent of the LIC IPO was subscribed on Day 1, Top Ten Updates

LIC IPO: The Life Insurance Corporation of India’s first public offering (IPO) has begun accepting subscriptions. The public offering will conclude on May 9. The insurance behemoth announced that it has raised around 5,627 crore from anchor investors in advance of the initial public offering.
The subscription period for the Life Insurance Corporation of India’s first public offering (IPO) began today. The public offering will conclude on May 9. The insurance behemoth announced that it has raised around 5,627 crore from anchor investors in advance of the initial public offering.

This Is Your Ten-Point Cheat Sheet For This Epic Story:

  1. At 7 p.m., when the first day’s bidding closed, the LIC initial public offering was 67% subscribed.

2.The retail individual investor segment was subscribed to 0.60 times, while the non-institutional investor segment was subscribed to 0.27 times. The reserved sections for employees and policyholders were fully subscribed, 1.17 times and 1.99 times, respectively.

3.Subscriptions for the LIC IPO will be accepted on Saturday (May 7), an uncommon move aimed at luring additional investors. On May 17, the shares will be placed on stock exchanges.

4.The pricing band for the LIC initial public offering is 902-949 per equity share. LIC policyholders would receive a 60 percent discount on equity shares, while retail investors and employees will receive a 45 percent discount on each share. Investors may bid for a minimum of 15 shares (one lot) at the issue price of 14,235.

Also Check Out: Investors Should Be Aware Of These Pitfalls Before Investing In The LIC IPO Next Week

LIC IPO News
LIC IPO News

5.The government intends to raise Rs. 21,000 crore by diluting a 3.5% share in LIC.

6.In the event of an IPO, the valuation would be the largest in the Indian market’s history. Prior to this, the greatest fundraises were observed in Paytm’s initial public offering last year ($18,300 crore) and Coal India’s IPO in 2010 ($15,200 crore).

7.LIC notified policyholders about the share sale by SMS and other means.

8.LIC has been alerting the public about the IPO through a variety of venues, including print and television commercials, for several months.

9.Due to the current market conditions, the country’s largest insurer lowered the amount of its first public offering to 3.5 percent from the previously planned 5%.

On September 1, 1956, LIC was founded by merging and nationalising 245 private life insurance firms, with an initial capital of 5 crore.

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