Initial Public Offering (IPO) of LIC:
The biggest-ever initial public offering (IPO) of India is by the Life Insurance Corporation of India (LIC). It has been fully booked under all the offered categories
- LIC’s IPO has received bids for 2.95 times the shares that were being offered.
- This helped the central government to raise Rs 21,000 crore as they sold 3.5% of the stake in LIC.
- The IPO size is 16.2 crore equity shares but bids have been received for 47.77 crore equity shares.
- On 12th May, the bidders of this IPO will be allocated shares. On 17th May 2022, it will be listed on the stock exchanges.
- Rs 902-949 per equity share was fixed by the LIC for the issue.
- The eligible employees as well as the retail investors got a discount of Rs 45 per equity share.
- The policyholders received a discount of Rs 60 per share.
Initial public offering:
- An IPO is a process of offering shares to the public in which a company offers newly issued shares for the first time.
- IPOs are used to generate new equity capital for the companies.
- Through IPOs the investments of the private shareholders like the founders of the company can be monetized.
