LIC IPO Latest Updates: The Board of Directors of Life Insurance Corporation of India Limited (LIC) held a press conference for its Initial Public Offering (IPO) on Wednesday. In this, important information has been given about LIC IPO. Tuhin Kanta Pandey, Secretary, DIPAM, said, “LIC’s IPO will be the largest IPO in the country even though its issue size has been reduced to Rs 21,000 crore. We want LIC to be a long term value creator in the equity market. That means LIC shares can make investors profit in the long run.
LIC IPO will open on 4th May. This issue will be open for subscription till 9th May 2022. This mega IPO will open for anchor investors on May 2. The price band of this IPO could be ₹902-949 per stock. The IPO will be a pure offering for the sale of 221.37 million shares. LIC may raise Rs 5,630 crore through pre-IPO placement of shares.
These will be the book running lead managers
The book running lead managers to the issue are Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India Pvt, JM Financial, JP Morgan India, Goldman Sachs (India) Securities, ICICI Securities, Nomura Financial Advisory, and Securities (India) ), and SBI Capital Markets.