The Life Insurance Corporation's (LIC) public issue offer is finally here, with the long-awaited initial public offering (IPO) to open on May 2 for anchor investors and from May 4 to May 9 for the general public, the insurance behemoth confirmed on Wednesday at its press conference.
New Delhi, 27 April 2022
As per news report NDTV, beginning of "LIC 3.0", says LIC Chairman M R Kumar, referring to India's biggest public issue, which will be in the price band of Rs. 902-949, with a Rs.60 discount to policyholders and a Rs.45 discount for retail investors and employees. The employee reservation portion will be 5 per cent of the post-offer equity share capital, and the policyholder reservation portion will be 10 per cent of the offer size. On Saturday, the LIC board approved a cut in its IPO issue size to 3.5 per cent from 5 per cent, the company said.
Source -NDTV
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