LIC IPO Latest update: The IPO of Life Insurance Corporation of India (LIC) has opened for subscription today. This issue will be open from May 4 to May 9. The most important thing is that you will be able to invest money in this issue even on Saturdays. Let us know that trading in the market remains closed on Saturdays and Sundays, but now in a notification of National Stock Exchange of India Limited, it has been said that retail investors will be able to subscribe to this issue on Saturday 7 May also.
Government is selling 3.5 percent stake
Let us tell you that LIC’s IPO is worth Rs 21,000 crore. The government is selling its 3.5 per cent stake in it. LIC has fixed the share price range for its issue at Rs 902-949. In this, some shares have been kept in reserve for existing policyholders and employees of LIC. A discount of Rs 45 per share is being given to retail investors and company employees and Rs 60 per share to policyholders. LIC shares are likely to be listed in the market on May 17.
Getting bumper response from investors
There is a great response from investors for LIC IPO. The issue has been subscribed 12% within 1 hour of bidding. Earlier, it has also received bumper bids from anchor investors. LIC IPO has received subscription of Rs 5,620 crore from anchor investors.