Press "Enter" to skip to content

LIC IPO Opens Tomorrow: GMP, Issue Details, How Policyholders can Buy LIC IPO Shares – News18

LIC IPO: The wait for Dalal Street is almost over with the initial public offering (IPO) of India’s biggest insurance company, Life Insurance Corporation (LIC) opening tomorrow on May 4. The anchor investing option has already opened on May 2, with the portion getting oversubscribed due to strong demand. Meanwhile, the main issue of LIC IPO is set to open tomorrow, with investors of all categories looking forward to invest in the issue. The company has also kept a separate quota for policyholders for the first time, whereby such eligible persons will get a 10 per cent reserved portion and a discount while buying LIC shares.

What is Life Insurance Corporation of India IPO?

Life Insurance Corporation of India IPO or LIC IPO is the initial share sale of the insurance behemoth. The entire offer is an offer for sale (OFS), whereby the President of India will offload 3.5 per cent stake in the company through the ministry of finance. The LIC IPO is expected to garner Rs 21,000 crore at the upper end of the price band, and will be a key factor for the government to meet its divestment targets. The LIC IPO price band is fixed at Rs 902 to Rs 949 per equity share.

When Will LIC IPO Open for Subscription?

The mega LIC IPO will open for subscription on Wednesday, May 4, that is tomorrow. Anchor investors have already booked the issue as it got oversubscribed with bids of over Rs 7,000 crore. Anchor booking opened on May 2. The LIC IPO will be open for bidding till May 9.

How to Apply for LIC IPO?

Investors and LIC policyholders need to have a demat account to apply for the LIC IPO. They can use different brokerage apps like Groww, Upstox and Zerodha or use the platform of any other depository participant (DP) to book the issue.

ALSO READ: LIC IPO: Know How Policyholders can Link PAN-LIC to Buy IPO

Here is a step-by-step guide:

-Log in to the relevant portal after opening the demat account

-Once done, visit your profile on the depository participant’s platform. While navigation process may vary from platform to platform, you would want to look at the IPO section here

-Now, select LIC IPO tab and select the category you want to bid for — in this case LIC Policyholder. Now, fill in your depository and bank account details

-Once done, enter a bid price and the number of shares you want to apply for

-Go through the terms and conditions carefully, and click on the submit/ apply option

-After this, you will receive a mandate from the participating bank on your UPI app which you need to confirm. Now, omplete the payment option by using UPI or any other online payment option to buy LIC IPO shares

ALSO READ: LIC IPO Listing, Price Band, Policyholder Discount; Key Details Investors Should Know

LIC IPO GMP Today

Unlisted shares of LIC are trading at the grey market with a premium of Rs 85 today, according to IPO Watch. This means, at the upper end of the price band, LIC shares are trading at Rs 1,034 (Rs 949 + Rs 85), as LIC IPO GMP today is Rs 85, which is around 9 per cent over the issue price.

LIC IPO: How Will I Receive Shares?

You will receive LIC IPO shares on the day the share allotment is done. This date has not been confirmed yet. If the issue gets oversubscribed, there will be a Sebi-mandated process through which bidders will get LIC shares.

How to Check LIC IPO Allotment Status?

While the company has not confirmed anything yet, normally IPO share allotment is visible on the BSE and registrar’s website.

When is the LIC IPO Listing Date?

LIC IPO listing date is on May 17, 2022. The issue will debut on both BSE and NSE.

Read all the Latest News , Breaking News and IPL 2022 Live Updates here.