Govt fixes LIC issue price at Rs 949 a share

May 13, 2022 16:05

The government has fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band, ahead of the listing of the country's largest insurer on May 17.

However, LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 a piece, respectively.

The Initial Public Offering (IPO) of Life Insurance Corporation (LIC) closed on May 9 and shares were allocated to bidders on May 12. The government sold over 22.13 crore shares or 3.5 per cent stake in LIC through the IPO at a price band of Rs 902-949 a share.

The retail investors and eligible employees of LIC were offered a discount of Rs 45 per equity share over the issue price, while policyholders got a discount of Rs 60 per share.

As per the prospectus filed by LIC on May 12, the offer price of the share sale has been fixed at Rs 949 per equity share. Shares were allocated to policyholders and retail investors after applying the discount applicable to them. The share sale fetched the government around Rs 20,557 crore. -- PTI

« Back to LIVE

TOP STORIES

AAP workers marching towards BJP HQ detained, Sec 144 imposed

The traffic police also issued an advisory in view of the protest planned outside the BJP office at the Deen Dayal Upadhyay Marg, while entry and exit have been disallowed at the nearest ITO metro station.

Factors that will guide the markets this week

The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious...

'God's plan, baby': Yash Dayal redeems himself

Yash Dayal had the haunting memory of Rinku Singh's five consecutive sixes last year when Mahendra Singh Dhoni lofted his full-toss over the Chinnaswamy stadium roof in Saturday's crucial IPL match in Bengaluru.

Golden Girl Sobhita

After choosing the royal colour, Sobhita Dhulipala turned it up a notch higher and went for gold for her second appearance at the Cannes Film Festival.

Satwiksairaj-Chirag win Thailand Open badminton

Satwiksairaj Rankireddy and Chirag Shetty hardly broke a sweat while defeating the Chinese pair of Chen Bo Yang and Liu Yi to win the Thailand Open men's doubles crown in Bangkok on Sunday.