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News you can use about the latest developments on the LIC IPO.
Latest announcements about the LIC IPO launch and other important information by the Government of India. All information on this post has been sourced from authentic platforms. It is not speculative and the main aim is to bring you the day to day announcements and developments on the issue of LIC IPO
IMPORTANT ANNOUNCEMENT( latest)
● LIC gets market regulator approval to launch India’s largest IPO.
● According to sources,the initial share sale could be delayed to next financial year due to market volatility driven by the Ukraine war.
Watch this space for further updates as they are announced.
UPDATE ON LIC IPO ( latest)
● ( source: The Economic Times)
● According to a government official LIC will take a call in the” best interest of the investors “
● The Government is closely watching the market keeping in mind the volatility caused by the Ukraine- Russia war.
● According to the government, they are desirous of taking out the IPO to meet it’s budgetary requirements, it might do a rethink on the timing of the LIC share sale.
UPDATE ON LIC IPO
● The timing of LIC IPO depends on the sentiment and stability of the markets improving.
● The Indian Government does not want to risk the LIC IPO due to volatility in the markets on account of the ongoing Ukraine war.
● The eligible LIC POLICYHOLDERS will have upto 10% reservation, also, they might get a discount on the offer price, according to the Finance Minister, Nirmala Sitaraman.
UPDATE ON LIC IPO( 26th April 2022)
Sources: PTI, Money Control News
● The LIC IPO has generated a huge interest but has got delayed due to volatility in the markets as a fallout of the ongoing Ukraine war.
●According to a report by PTI, the IPO sale has been announced and will open on 4th May 2022
● According to sources the bidding for IPO will continue till 9th May 2022
● Initially, the IPO was to fetch the Government INR 50,000 Crore by selling 3.5% of its stake in the LIC. This was before the war.
● Now, at 3.5% the Government is hoping to fetch 21,000 Crore towards the exchequer.
PRICE BAND OF THE SHARES OF LIC IPO:
● LIC IPO has been set at INR 902-949( according to Government sources)
● Discount of INR 60 for LIC POLICYHOLDERS
● Discount of INR 40 for retail investors and employees.
UPDATE ON LIC IPO (5th May 2022)
Finally The Government has announced the LIC IPO for Retail investors ( 5th May 2022)
● The retail investors can bid for shares from the 5th of May2022 to the 9th of May2022.
● Share allotment will be announced on the 12th of May2022 and those who have not got the shares will get the money back in their accounts.
WHAT IS BEING OFFERED?
● Retail investors can bid for shares and get a discount of ₹45 per share.
● Employees will get a discount of ₹45 per share.
● Policyholders will get a discount of ₹60 per share.
SHARE PRICING :
● The Government is offering LIC shares in the price band of ₹ 902 to ₹ 949 per share.
● LIC shares will be listed on the BSE and NSE on the 17th of May2022.
HOW TO APPLY ?
● Applicants can apply in lots.
● 1 lot equals 15 shares.
● A person can bid for a maximum of 14 lots of 210 shares.
● Minimum investment will be ₹ 14235
● A maximum investment cap is applicable at ₹ 2 lakh.