Business

LIC IPO to be listed on stock markets tomorrow. Check share value, other details

LIC is the most important IPO providing within the nation, and had closed with practically 3 instances subscription, largely by retail and institutional consumers. The overseas investor participation was muted.

All eyes are on the Life Insurance Corporation (LIC), the nation’s largest insurer which can checklist its shares on the stock exchanges on Tuesday. The itemizing comes after an outstanding response from the home buyers within the preliminary share sale. The sale fetched 20,557 crore to the federal government, PTI reported. 

As the much-awaited LIC IPO is about to be listed on the Bombay Stock Exchange and the National Stock Exchange, listed here are essential issues to know. 

1. According to the state insurer’s prospectus, every LIC share prices 949 whereas being allotted to the buyers. On the other hand, the policyholders and retail buyers bagged the shares at 889 and 904 respectively after the reductions provided to them. Around 15.81 lakh shares have been reserved for the staff and a pair of.21 crore shares for the coverage holders.

2. The preliminary public providing (IPO) for LIC closed on May 9 and the shares have been allotted to the bidders on May 12. According to PTI, the Centre offered over 22 crore shares or a 3.5 per cent stake in LIC by means of the IPO. 

3. LIC is the most important IPO providing within the nation, and had closed with practically 3 instances subscription, largely by retail and institutional consumers. The overseas investor participation was muted. 

4. The IPO providing was scheduled to be open to public in March, however was deferred to uncertainty in market circumstances amid the Russia-Ukraine battle.

5. According to reviews, the LIC IPO is predicted to be a significant contributor to the Centre’s disinvestment proceeds within the present fiscal. The proceeds from the LIC concern make up for a couple of third of the 65,000 crore disinvestment goal set for the present fiscal.

(With PTI inputs)

 



Close Story

Back to top button