LIC IPO opens for subscription today; check price band, GMP

New Delhi, May 04: The much-awaited Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) will open for investors on May 4 (today) and the last day to subscribe to the IPO is May 9 (Monday).

The indicative price range has been set at 902 to 949 rupees per share. 5,620 crore rupees worth of shares have been set aside for anchor investors.

The anchor investor portion of the IPO, which opened on Monday, has been fully subscribed at 949 rupees per share.

The government is selling more than 22 crore 13 lakh shares of LIC targeting to raise about 21,000 crore rupees.

The allotment of shares to the Demat account of bidders will happen by May 16. The IPO will list for trading on May 17.

As of December 31, 2021, LIC had 2,048 branch offices and 1,559 satellite offices in India, covering 91 percent of all districts in the country.

LIC IPO GMP

LIC IPO is commanding a good premium in the grey market. LIC IPO is trading at 9 per cent in the grey market over its upper price band of Rs 949. According to IPO Watch and IPO Wala, LIC share is trading at a premium of Rs 85 (roughly 9 per cent) per share in the grey market on Wednesday morning.