The wait for India’s most eligible IPO is finally over. LIC declared May 4 and May 9 as the date for applying for the IPO.
Price Band of LIC IPO
According to some news websites, the price band of LIC will be between Rs 902 to 949.
The government is planning to sell 3.5% of its stake for 21000 Cr, currently, it owns 100% shares of LIC.
Reservation for policyholders:
The policyholders will get a 10% discount which is Rs 60 per share.
Benefits for Employees
The Employees will get a discount of Rs 35 per share which is 5%. The employees can buy the IPO worth RS 2,00,000.
What if LIC can’t bring its IPO on reserved dates
Although the government has set the 12th of May as their deadline for debuting the LIC IPO. If it fails to bring its IPO then it will have to resubmit all documents to SEBI. Additionally, they will have to add the results for the December quarter.