LIC IPO GMP Daily Updates: The long-awaited LIC IPO is finally set to hit the market on 4th May 2022. This will be one of the biggest public offerings in recent years, with the state-run insurer looking to raise around Rs 100 billion. The move has been highly anticipated by investors, with many seeing it as a key opportunity to get in on the ground floor of what is expected to be one of the country’s most profitable companies.
LIC IPO GMP Daily Updates
According to market experts, LIC shares are currently available in the grey market at a premium (GMP) of Rs. 75. Bidders’ shares will be allocated to their demat accounts by May 16, 2022, and the company’s shares will be listed on the BSE and NSE on Tuesday, May 17, 2022.
Quick Insight About LIC IPO
- Price band for the LIC IPO has been revised recently & fixed at Rs 902 to Rs 949.
- Promoters of LIC can expects to raise up to $2.74 billion from selling a 3.5 percent stake in LIC
- At the revised rate, the government now could raise valuation of $2.61 billion.
- LIC IPO is set to open on May 2 for anchor investors and for retail investors on May 4, which sets to close on 9 May 2022
- Employees and retail investors will get discount of Rs 45/share discount, while LIC policyholders can too avail benefit of Rs 60/share on the fixed price band.
- The remaining shares will be distributed as follows: 50% to qualified institutional buyers (QIBs), 35% to retail buyers, and 15% to non-institutional investors, in addition to policyholders and shareholders.
LIC IPO Overview
| LIC IPO Date | May 4, 2022 to May 9, 2022 |
| LIC IPO Face Value | ₹10 per share |
| LIC IPO Price | ₹902 to ₹949 per share |
| LIC IPO Lot Size | 15 Shares |
| Issue Size | 221,374,920 shares of ₹10 (aggregating up to ₹21,008.48 Cr) |
| Offer for Sale | 221,374,920 shares of ₹10 (aggregating up to ₹21,008.48 Cr) |
| Retail Discount | Rs 45 per share |
| Employee Discount | Rs 45 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offe |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offe |
| Company Promoters | The President of India, acting through the Ministry of Finance, Government of India is the company promoter. |
Also Read:- How to Link LIC India Policy to Pan Card
LIC IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 15 | ₹14,235 |
| Maximum | 14 | 210 | ₹199,290 |
LIC IPO TimeLine
| Event | Date |
|---|---|
| LIC IPO Opening Date | May 4, 2022 |
| LIC IPO Closing Date | May 9, 2022 |
| Basis of Allotment | May 12, 2022 |
| Initiation of Refunds | May 13, 2022 |
| Credit of Shares to Demat | May 16, 2022 |
| LIC IPO Listing Date | May 17, 2022 |
Quick View of Financial Structure
| Particulars | For the year/period ended (₹ in Millions) | |||
|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 40,907,867.78 | 37,464,044.68 | 34,141,745.74 | 33,663,346.17 |
| Profit After Tax | 17,153.12 | 29,741.39 | 27,104.78 | 26,273.78 |
Why you should apply for it?
The key highlights of the IPO include the company’s large market share and its profitability. With a market share of over 66% in new business premiums, LIC is unrivalled as a provider of insurance products in India. The company is also highly profitable, with a net profit of Rs 61.2 billion in the financial year ended March 2020. This makes it one of the most attractive public offerings in recent years.
The IPO will be open for subscription from 4th May to 9th May 2022. Interested investors can apply for a minimum of 15 shares and a maximum of 210 shares. So if you’re looking to get in on the action, be sure to act fast and apply for your share of this highly anticipated IPO!
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