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LIC IPO Update: LIC IPO fully subscribed on the second day of opening, investors can apply till 9 May

LIC IPO Update: LIC IPO fully subscribed on the second day of opening, investors can apply till 9 May
Written by Arindam
LIC IPO Update: LIC IPO fully subscribed on the second day of opening, investors can apply till 9 May

LIC IPO: LIC’s largest IPO in the Indian primary market has been fully subscribed. LIC had issued 16.2 crore equity shares through IPO. But after the overwhelming response from the investors, bids have been received for 16.24 crore shares. The quota reserve for policyholders has been subscribed 3.02 times, LIC employees’ quota is 2.14 times and retail investors’ quota has been subscribed 91 percent.  
     

IPO will be open for retail investors till 9th ​​May
Although LIC’s IPO is fully subscribed but LIC’s IPO will be open for retail investors till 9th ​​May. LIC is going to raise Rs 21,000 crore through IPO. Let us tell you that the price band of LIC has been fixed at Rs 902 to 949 per share. LIC’s stock is now trading at a premium of Rs 65 even before the IPO opens.  

Discount on IPO Price
LIC is offering discount to policyholders investing in its IPO. Policyholders will be given a discount of Rs 60 per share, then retail investors and employees of the company will get a discount of Rs 40 per share. 

Listing on the stock exchange as on May 17
1.58 million shares have been reserved for employees, 22.14 million for policyholders and 98.83 million for institutional investors. The shares will be allotted on 12th May and the shares will be credited to the demat account of the investors by 16th May. LIC’s IPO will be listed on the stock exchange on May 17. 

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Arindam

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