LIC IPO: Life Insurance Corporation, popularly known as LIC is an Indian state-owned insurance & investment company. LIC was formed in 1956 by merging and nationalizing around 245 private life insurance companies.
the government has just filed the draft red herring prospectus to achieve disinvestment targets for FY22. As per the DRHP filed with the regulator, the government of India will offer 5% of its equity in LIC to the public via an offer for sale. the government aims to raise Rs.78,0000cr through LIC IPO.
Let’s have a detailed overview of the LIC IPO release date, IPO offer price, subscription, grey market price, and other details.
Table of Contents
LIC IPO Details:
|LIC IPO Date||not yet announced|
|Issue Size (Rs cr)||₹.78,000Cr (316,249,885 Eq Shares)|
|Offer for Sale||316,249,885 Eq Shares (₹.78,000Cr)|
|Issue Price||not yet announced|
|Market Lot size||not yet announced|
|Min. Order Quantity||not yet announced|
|Listing on||NSE and BSE|
Life Insurance Corporation Ipo Date:
The opening and the closing date of the IPO of Life Insurance Corporation is not announced yet.
|LIC Issue Open Date||[●]|
|LIC Issue Close Date||[●]|
|Basis of Allotment Date||[●]|
|Initiation of Refunds||[●]|
|A credit of Shares to Demat Account||[●]|
|LIC IPO Listing Date||[●]|
Lic IPO Offering Summary:
Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company, aggregating to Rs.78,0000cr
Offer for Sale: Offer for sale consists of Up to [●] Equity Shares of the face value of Rs.10 each, aggregating Rs.[●]cr.
Issue Size: [●] Equity Shares of Rs.10 each, aggregating to Rs.78000cr
LIC IPO Grey Market Premium (LIC GMP):
The Life Insurance Corporation IPO Grey Market Premium price is Rs [●], the Kostak rate is Rs [●], and the Subject to Sauda is[●].
LIC IPO: Business Overview
Today, LIC is the largest life insurer in India in terms of GWP, NBP, number of individual policies issued and number of group policies issued as of Fiscal 2021. As of September 30, 2021, LIC had a market share of 64.49% in NBP (individual and group) as compared to the next largest competitor which had a market share of 7.79% in NBP (individual and group).
As of September 30, 2021, LIC operates through 8 zonal offices, 113 divisional offices and more than 4,700 branch/satellite and mini offices. NBP for LIC in Fiscal 2021 was over Rs. 1.8 trillion, representing 66% of the aggregate industry NBP.
LIC Promoters And Management:
The President of India, acting through the Ministry of Finance, Government of India is the company promoter.
Key Operational Numbers Of LIC Business:
|Total Assets||3746404.5 cr||3414174.6 cr||3366334.6 cr|
|Total Revenue||703709.4 cr||645605.5 cr||570809.6 cr|
|EBITDA||2980.3 cr||2718.5 cr||2642.3 cr|
|Profit After Tax||2974.1 cr||2710.5 cr||2627.4 cr|
|Diluted EPS Rs.||[●]||[●]||[●]|
Life Insurance Corporation IPO Related FAQs :
When Will The LIC IPO Open?
The Company did not announce the IPO open date. The opening and closing date are updated after Company notified.
What Is The Price Band For The LIC IPO?
The Company did not decide Price Band for IPO. However, it is expected that it can be anywhere between Rs.1500 to Rs.3200 per share.
What Is The Lot Size For The LIC IPO?
Investors need to subscribe to a minimum of one lot of [●] shares. A retail individual investor can bid for a maximum of [●] share
What Is The Issue Size Of The LIC IPO?
The issue comprises a fresh issue of up to [●] cr and an offer for sale of up to [●] crore shares that amount to Rs.[●] cr. At the upper limit of the price band. This sums up the two; the issue size for Life Insurance Corporation IPO is Rs.78000cr.
What Is The Quota For Retail Investors In LIC IPO?
As per the RHP, not more than 36 per cent of the offer would be available for allocation to retail.
Where Will Shares Of Life Insurance Corporation Get Listed?
The shares of the company will be listed on the BSE and the NSE.
On What Date Will Life Insurance Corporation Get Listed?
lic listing is likely by [●].
Where Could We Check Life Insurance Corporation IPO Allotment Status?
Those who would bid for the issue can check the subscription status on www.linkintime.co.in, the online portal of Link Intime India Private Limited, the registrar to the IPO.