LIC IPO
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LIC ( Life Insurance corporation of India ) will launch the biggest initial public offer (IPO) in the history of Indian stock market on wednesday 4 May 2022 and the offer for subscription will close on 9 May 2022 .
The allotment of shares will be on 12 May 2022 and the refund will be credited back to the account of unsuccessful bidders by 13 May 2022. debut date of LIC shares on the stock exchange is 17 May 2022 .
The Government of india will be liquidating its 3.5%s stake in the LIC for Rs 21000 Crore at the upper end of price band Rs 902- Rs 949 per share .
LIC is the biggest life insurer of India and it has market share of 61% compare to nearest competitor which has approx 9% share .
LIC has 2048 branches in india covering 91 percent of all districts in the country .
10 percent of the offer shares are reserved for the LIC policy holders and also offering a discount of Rs 60 to policy holders .
All Brokerage houses are recommending investors to apply for the issue as the valuation is attractive and has a strong market share .
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