Life Insurance Corporation of India (LIC) is likely to finalise the share allotment of its mega initial public offering (IPO) by Thursday. India’s largest-ever IPO was oversubscribed 2.95 times as six days of bidding came to an end on May 9.
The government expects to raise up to Rs 21,000 crore – a third of its original target – from selling a 3.5 per cent stake in the country’s top insurer.
Investors bid for 47.84 crore shares compared with the total 16.20 crore on offer. Bids were oversubscribed nearly twice by retail individual investors (RIIs), who were offered 6.92 crore shares at a discount of Rs 45 per share.
The price range for the issue has been set between Rs 902 and Rs 949 per share and LIC is likely to be listed on May 17.
In the grey market, LIC shares were trading at a premium of less than Rs 40, down from nearly Rs 100 earlier.
Here’s how you can check your allotment status on the BSE website:
* Visit the BSE’s official website.
* In the menu there, choose LIC IPO.
* Enter the LIC IPO application number that was assigned to you.
* After that, type in your Permanent Account Number (PAN card number).
* Then, confirm on the captcha by clicking ‘I am not a robot’.
* After that click the submit button.
* Once you do that, you will be able to monitor the status of your allotment.
Here’s how you can check your allotment status on the NSE website:
* Visit the official website of NSE.
* Select the ‘equity’ option on the following page.
* Then, from the dropdown option, select ‘LIC IPO’ as the issue name.
* Enter the number of your application.
* After that, enter your Permanent Account Number (PAN).
* Then choose ‘I am not a robot’ and click ‘submit’.
* The status of your allotment will be displayed.