LIC, the biggest life insurer in the country, has finally filed its draft red herring prospectus with the market watchdog SEBI. The most anticipated IPO of the year is now progressing on the path of launching the biggest IPO of the Indian market has ever witnessed.
The LIC IPO is expected to garner Rs64,500 crores through an offer for the sale of 31.6 crores shares. Out of total outstanding shares of 632.49 crores equity shares, this is only a 5% stake of the Indian government in LIC.
If the sources are to be believed, the expected details of LIC IPO is given as under:
- Issue size- 31,62,49,885 shares
- Offer for sale- 31,62,49,885 shares accumulating to Rs 65,416.29 crore
- Issue Open date- 10th march, 2022
- Issue Close date- 14th March 2022
- Price band- Rs 2000-Rs 2100
- Discount- 10% for policyholders and employees.
- Lot Size-7 Shares
- Reserved shares
- Employees-1.58 crore shares
- Policyholders-3.16 crore shares
- Anchor Investors-8.06 crore shares
- Qualified institutional investors-5.37 crore shares
- Non-Institutional Investor-4.03 crore shares
- Retail Investors-9.41 crore shares
- Anchor Investment Allotment- 9th March 2022
- Price Band Announcement- 7th March 2022
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