LIC IPO GMP Today and More: Investors can apply for the LIC IPO today, the 2nd day of the bidding process. But before that, here’s everything you need to know about the latest LIC GMP.
LIC IPO GMP Today: The Initial Public Offering (IPO) of the Life Insurance Corporation of India will open for subscription on Wednesday, May 4 and close on May 9, 2022. According to data from IPO Watch and IPO Wala, LIC GMP was 65 on Wednesday , at ₹85 on Tuesday, May 3. The shares of the issue of ₹ 21,000 crore have been subscribed to on day 1 0.67 times. The portion reserved for qualified institutions (QIB) is 0.33 subscribed, non-institutional Buyers 0.27 times and retail investors 0.60 times.
Today is the second day of the bidding process and investors should know that the IPO market timing is 10am to 7pm. Investors wishing to bid for the LIC IPO can do so online through Groww, Paytm, Zerodha, and others. Here’s everything you need to know about LIC’s IPO.
1. The issuance period of the LIC IPO is from May 4 to May 9. The issue period also includes bidding on Saturday, May 7, 2022.
2. The price range of the LIC IPO is fixed between Rs. 902 and Rs. 947 per share of shares. Discount of Rs. 45 per share share will be provided to private and eligible employee class and of Rs. 60 Share Share by Eligible Policyholder.
3. The public issuance of 221.37 million shares by LIC represents a 3.5 percent stake, which is entirely a sale offer by the government.
4. LIC has already raised more than ₹5,000 crore through its anchor book on May 2nd.
5. The book running lead managers of the IPO include Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Goldman Sachs (India) Securities Pvt. Ltd., ICICI Securities Limited, JPMorgan India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited.
6. The Registrar of the IPO is KFin Technologies Private Limited (formerly known as Karvy Fintech Private Limited).
People who want to bid on the LIC IPO can do so through Paytm by following the steps below.