LIC IPO: Policy holders got this SMS before launching, gave this information

The government is going to raise about Rs 21000 crore from this IPO.

There are also indications in the gray market premium that LIC’s IPO is going to give investors profits on the day of listing.

Country’s largest IPO (IPO) is going to launch today. initial public offering Before (IPO) Life Insurance Corporation of India (LIC) informed its policyholders about the share sale through SMS and other means. LIC’s IPO will open for retail and institutional investors on Wednesday and will close on May 9. LIC has fixed the share price range for the issue at Rs 902-949. In this, some shares have been kept in reserve for existing policyholders and employees of LIC. A discount of Rs 45 per share will be given to retail investors and eligible employees and Rs 60 per share to policyholders.

22.13 crore equity shares will be offered for sale during the issue. LIC shares are likely to be listed in the market on May 17.

Message to policy holders

LIC has given information related to the IPO in a message sent to its policyholders on their mobile phones. LIC has been disseminating information about this IPO through print and TV channels for many months.

LIC said that it has raised Rs 5,627 crore from anchor investors, in which there is a majority of domestic companies. 5.92 crore shares were reserved for anchor investors at the rate of Rs 949 per equity share.

LIC is going to sell 3.5 percent of its shares through IPO. It is expected to raise Rs 20,557 crore.

The profit can be from 300 to 400 rupees on the share

According to experts of brokerage and research house IIFL, the listing of LIC IPO can be from 1300 to 1400 rupees. The issue price of LIC’s IPO is Rs 902-949 per share. In this context, investors who are allotted IPO along with the listing can make a profit of 300 to 400 rupees per share.

You can apply in all three categories

The lot size in this is 15 shares. Investors can bid for a maximum of 14 lots. If you are a retail investor as well as policy holders and employees of the company, then you can bid separately for all categories. You can apply for shares worth about Rs 6 lakh. The listing of the company’s shares will be on NSE and BSE on 17 May 2022.

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Bid up to Rs 5 lakh through UPI

Paytm Money has given the facility to bid up to Rs 5 lakh in the IPO through UPI. It is the first discount broker in the country, which has allowed High Net Worth Individuals (HNIs) to bid up to Rs 5 lakh through UPI. Apart from the retail investors category, a separate category has also been created for LIC IPO.