New Delhi : The country’s largest insurance company Life Insurance Corporation of India’s IPO (LIC IPO) is opening for common investors from today. There is tremendous enthusiasm among investors and shareholders regarding this. By sending a message to the policyholders of LIC, the company has informed about the opening of the IPO.
Common investors can invest in LIC’s IPO till May 9. Many people have opened their demat account to invest in IPO. However, there is still less information about the IPO among the common people. In such a situation, know all the important information related to LIC IPO here.
The government holds 100 percent stake in the country’s largest insurance company LIC
Through IPO, the government is going to sell its 3.5 percent stake in LIC. The government is expected to get Rs 21000 crore through IPO. After this, all the common investors who buy the IPO will have a stake in LIC.
Common investors will be able to invest money in LIC till May 9
The company has kept a price band of Rs 902-949 per share for the IPO. The face value of a share is Rs 10. Retail investors will be able to bid for LIC’s IPO by lot. There will be 15 shares in one lot.
This means that investors bidding for LIC IPO will have to invest Rs 949 * 15 i.e. Rs 14235 for a minimum of one lot. As per the guidelines issued earlier, a common investor will be able to bid for a maximum of 14 lots.
LIC is giving special discount to its policyholders in IPO
Policyholders will get a discount of Rs 60 per share and Rs 45 per share for retail investors. Investing in LIC IPO is a profitable deal in the eyes of experts. Manish Sonthalia, Associate Director and Fund Manager, Motilal Oswal Asset Management Company, has described IPO as a better option to invest.