Business
Street Buzz: LIC IPO likely from 10 March, issue size seen at Rs 65,400 crore; Check out more
The IPO of Life Insurance Company of India (LIC) is likely to take place between March 10 and 14, and according to market rumors, the share sale could be worth around Rs 65,400 crore in the price range of Rs 2,000-2,100 per share rupee.
Earlier, the government filed a draft LIC document for the country’s largest IPO on Sunday, denying rumours of an offering date, saying any valuation decision would be made after a roadshow with investors and the listing would be completed in March.
However, speculation is rife about key aspects of the public offering, which could reserve 316 million shares for LIC’s 283 million policyholders.
The state-owned insurance giant, which has the nation’s largest network of 1.35 million registered agents, will try to lure policyholders to the IPO with a rumored 10 percent discount. To be sure, many policyholders will be first-time investors in the stock.
Let’s take a look at the LIC public release rumor mill in overdrive.
Issue Opens: March 10
Issue Closes: March 14
Issue Price: Rs 2,000-2,100 per share
Issue Size: 31,62,49,885 shares
Offer-for-Sale: 31,62,49,885 shares which is equal to Rs 65,416.29 crore
Discount: 10 percent for employees and policyholders
Price Band Announcement: March 7
Anchor Investors Allotment: March 9
Market Lot: Seven shares
Employees: 1.58 crore shares (10 percent discount = Rs 1,890)
Policyholders: 3.16 crore shares (10 percent discount = Rs 1,890)
Anchor: 8.06 crore shares = Rs 16,935.18 crore
Qualified Institutional Bidder: 5.37 crore shares = 11,290.12 crore
Non-Institutional Investors: 4.03 crore shares = 8,467.59 crore
Retail Individual Investor: 9.41 crore shares = 19,757.71 crore Listed Peers: SBI Life Insurance Company, HDFC Life Insurance Company, ICICI Prudential Life Insurance Company
Complete News Source : Money Control
Table of Contents
Business managers, known for their dynamic and demanding roles, are now adopting innovative activity hacks to improve their lifestyle and well-being. Recognizing the importance of work-life balance and personal wellness, these leaders are implementing a range of activities to foster physical health, mental clarity, and overall satisfaction in their professional and personal lives.
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