LIC IPO Latest Update: There have been 24 IPOs in the year 2022 so far. Of these, 8 are on the main board of BSE and 16 are in the BSE MSME segment. Out of 28 IPOs listed so far, 20 remained above their issue price and 4 in losses. Apart from this, if we talk about listing day, 18 IPOs made their investors profit on the day of listing, while 6 disappointed. Now the hopes of lakhs of investors rest on LIC’s IPO.
Life Insurance Corporation (LIC) has set the IPO issue price at the top-end of the indicated range at Rs 949. The LIC issue, which ran from May 4 to May 9, was sold in the price band of Rs 902 to Rs 949. The issue was subscribed 2.95 times on the last day of bidding on Monday, driven by strong demand from retail investors, employees and policyholders of the insurer.
Which IPO gave big returns this year on Listing Day, will the investors of LIC IPO get rich?
Exchange data shows that the issue by the insurance giant received bids for 478.3 million shares as against 162 million shares on sale (excluding anchor book), according to ET Now. The issue received over 7.3 million applications, breaking the 14-year-old record of Anil Ambani’s Reliance Power share sale. Reliance Power received 4.8 million applications in 2008.
LIC IPO: Know how much share you got allotted in this IPO
On Monday, the shares will be credited to eligible investors and the listing of the stock is likely to happen by Tuesday. LIC is the biggest ever IPO in the domestic market, as the government sold 22.13 crore shares or 3.5 per cent stake in the company. It was valued at Rs 6 lakh crore, which was almost 1.12 times the embedded value of Rs 5.4 lakh crore.