LIC IPO Share Price Revises To ₹902-949, To Open On May 4

Price Range Per Share Has Been Set For LIC IPO

Price Range Per Share Has Been Set For LIC IPO

The price range has been set at ₹902-949 per share for the Initial Public Offering (IPO) of Life Insurance Corporation (LIC). There is a discount price set at ₹60 for policyholders, as per CNBC TV18 which they know from government sources.

The government will be able to raise to ₹21,000 Cr with an upper range of the price. As per the news, there is a discount price of ₹40, which will be allotted to the retail and employees. The much anticipated initial public offering of the government-run insurance giant is set to open on May 4 and to close on May 9.

The offer for the anchor investors will likely open on May 2, as there is no greenshoe option available in the IPO.

Also read:

Finally LIC IPO To Open On May 4, Issue Size ₹21,000 Cr

Info Collected So Far

  • Government is likely to raise $2.47 Billion by selling a 3.5 per cent stake in LIC. This is the third of the total expected amount and a billion short in terms of the original projection.
  • In terms of a lower range of share price, the government will be able to generate $2.61 Billion.
  • ₹6 lakh Cr is the LIC valuation amount now which much lower than the previously expected ₹17 lakh Cr.
  • No greenshoe option is available in the LIC IPO.
  • 60 per cent is reserved for the anchor investors out of the total of 50 per cent QIB allocations.
  • The government has filed an updated DRHP to SEBI on April 25, which informs the selling of a 3.5 stake instead of the 5 per cent mentioned in the previous papers.
  • This IPO will be the major part of the government’s plan to disinvest. The Government has a revised disinvestment target of ₹65,000 Cr for the fiscal year 2022-23.
  • The IPO plan was deferred for a long time due to the insane market volatility caused by the Russia-Ukraine war.

Find Your Daily Dose of NEWS and Insights - Follow ViralBake on WhatsApp and Telegram

Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

Related Articles

Back to top button

AdBlocker Detected

Please Disable Adblock To Proceed & Used This Website!