The market and investors are preparing, as the long-awaited IPO of LIC is only hours away. And why not, given that this will be the largest initial public offering (IPO) that will ever appear on the markets in the history of the Indian stock market?

Add to this the fact that LIC (Life Insurance Corporation of India) has become a famous name in the country, which has touched the lives of almost every Indian and will become public with 2,048 branches and 1,559 satellite offices in India, which cover 91% of all districts in the country. Now you get an idea of ​​why investors will go crazy after the IPO starts tomorrow.

That’s right, India’s largest IPO starts tomorrow and will be valued at close to ₹ 21,000 kroner, which could put the LIC’s market capitalization at ₹ 6 lakh kroner and a face value of ₹ 10. The price range of the same is fixed at ₹ 902 to ₹ 949 for equity participation. Investors can start bidding on a minimum of 15 shares and a multiple thereafter. You can apply for a minimum of one lot (15 shares) and a maximum of 14 lots as a retail investor.

If you followed ours report of the same in February, then this should not surprise you. However, the government will not sell 5% of its stake in the insurance giant (something that was spotted in its draft SEBI red herring prospectus), but will instead liquidate a 3.5% stake in it.

The IPO will remain open for bidding to the general public until May 9.

Today, LIC is almost synonymous with insurance, at least in India, and is the first name that comes to mind when one needs to get insurance for something. It is therefore not surprising that it is the largest insurance player in the country with a market share of 66% in new business premiums. In addition, it is the 10th largest global insurance player in terms of total managed assets.

So far, institutional and qualified institutional buyers (QIBs) have already submitted their bids (50% of the bid is for QIB), while 15% are reserved for non-institutional investors. The remaining 35% will be sold from tomorrow.

In fact, mutual funds have already invested ₹ 4,000 kroner in LIC’s general ledger before it ended yesterday with 59.2 million shares offered and 42.1 million shares reserved for domestic mutual funds. In fact, 99 mutual funds pumped over ₹ 4,000 kroner and bought the shares at Rs 949 per share.

About 15.81 lakh shares are reserved for employees and about 2.21 million shares are reserved for policyholders. They receive a discount of ₹ 45 and ₹ 60 respectively if they apply for the public publication.

Previous articleAt the request of Elon Musk, Twitter users will soon receive an editing option!
Next articleVimeo Extends Partnership with Exertis North American Agreement Now Expands Across Europe – TECHNOLOGICAL TRUSTER