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Initial Public Offering (IPO) Of LIC

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.

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