Insurance sector giant LIC's IPO will open for common investors from Wednesday i.e. today. Common investors will be able to bid on it till May 9. The IPO was opened for anchor investors on Monday and was oversubscribed on the very first day itself. The government will raise Rs 21,000 crore by selling its 3.5 percent stake in LIC. This is the biggest IPO ever in the Indian market. Earlier in 2021, Paytm had an IPO of Rs 18,300 crore and in 2010, Coal India had an IPO of Rs 15,200 crore.
LIC on Tuesday said it has raised over Rs 5,627 crore from anchor investors led by domestic institutions from its IPO. Anchor Investors (AI) share (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share. Of the shares allotted to AI, 4.2 crore shares (71.12 percent) were allotted to 15 domestic mutual funds. This allocation was done through the 99 scheme.
Apart from this, investments were also made by some domestic insurance companies and pension funds. Domestic investment institutions include ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB MetLife Insurance, SBI Pension Fund, and UTI Retirement Solutions Pension Fund Scheme. Foreign partners include the Government of Singapore, the Monetary Authority of Singapore, Government Pension Fund Global, and BNP Investments LLP.
According to the IPO document, of the 22.13 crore shares offered for sale, 5.93 crore shares were reserved for anchor investors. 9.88 crore shares are reserved for qualified institutional buyers and 2.96 crore shares are reserved for non-institutional buyers. 15 lakh shares are for employees and 2.21 crore shares are for policyholders. The company will start trading on the stock exchanges on May 17. Most of the brokerage houses have given buy advice for LIC IPO.
Also Read: GST Collection: All records broken in April, 1.68 lakh crore revenue
HPBOSE 10th Result 2022: Himachal Board 10th result will come by this date, will be able to check like this
HPBOSE 10th Result 2022: Himachal Pradesh Board of School Education (HPBOSE) will announce the result of class 10th conducted in the state soon. After this thousands of students of the state who are
US-Japan Meeting: US President and Japanese PM Kishida will meet on January 13, and many issues will be discussed
The White House said on Tuesday that US President Joe Biden will discuss China's tensions with North Korea, Ukraine, Taiwan, and a 'free and open Indo-Pacific' with Japanese Prime Minister Fumio
RBI Monetary Policy Committee special meeting today, reports on inflation will be submitted to the government, suspense on repo rate remains
The Monetary Policy Committee (MPC) of the Reserve Bank of India will hold a special meeting on the sidelines of its scheduled meetings on Thursday. In this special meeting, the reasons for inflation
Ruturaj Gaikwad Asian Games: Ruturaj Gaikwad will lead the Indian team in the Asian Games, Shikhar Dhawan did not get the place
The Indian men's cricket team for the Asian Games has been announced. Under the captaincy of Ruturaj Gaikwad, Team India will present its challenge in the Asian Games for the first time. Earlier media
Ranveer Singh- Kriti Sanon spent special moments in Varanasi, the actor showered love on children, shared these pictures from the ghat
Bollywood stars Ranveer Singh and Kriti Sanon showcased their fashion show in Varanasi for the first time. These stars, incorporating the culture and heritage of this place, showed a glimpse of the
NTA: NTA is in the news for the NEET paper leak; Know how this organization works and what its objectives
NTA: NTA has been in the headlines ever since the NEET paper leak. NTA conducts many major examinations in the country, but do you know what NTA is? When was it established? Who is its head and how
Pakistani security forces killed 11 terrorists: Commander Hafizullah Tore was also killed during the search operation in Waziristan.
Pakistan's security forces have killed 11 terrorists including 2 suicide bombers during the search operation. The security forces got this success during the search operation in the Wana district
Asia Cup 2025: 'Naqvi has been shown his place, ' the BJP explains why the Indian team did not win the Asia Cup trophy.
After defeating Pakistan in the final match of the Asia Cup on Sunday and winning the tournament, the Indian cricket team refused to accept the trophy and medals. In this way, the Indian cricketers
IPL fastest growing league: 24% annual growth rate, the value expected to cross $ 1 billion after new media rights
IPL has been a gold mine for investors. Many big companies are investing in it seeing the growth. So the value of teams is also increasing continuously. After the launch of this cricket league, in
'Ravan with Vibhishana...', why did this actor refuse to work in Ranbir Kapoor's Ramayana?
Ranbir Kapoor and Sai Pallavi's film 'Ramayana' is the most awaited film of 2026. Fans are very eager to see how Ranbir, who has played many challenging characters from chocolate boy to mute, portrays
