The initial public offering (IPO) from Life Insurance
Corporation of India is now open for subscription. The public release ends on
May 9. The insurance giant said it received about Rs. 5,627 crores from major
investors for the IPO.
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Here is your 10-point cheat for this great story:
1.
LIC's IPO increased its bids to 4.43 crore
shares compared to the IPO's size of 16.20 crore - 28 percent subscribed within
two hours of the first day of the offer. At 12:03, the private capital ratio
was recorded 0.31 times and the category of non-institutional investors was
entered 0.06 times. Shares reserved by the employee and reserved by the
policyholder were listed 0.47 times and 0.96 times.
2.
The price range for IPO LIC is Rs. 902-949 per
share. LIC policyholders receive a discount of Rs. 60 per share, while retail
investors and employees receive a discount of Rs. 45 per share.
3.
Investors can offer a minimum of 15 shares (one
lot) for Rs. 14,235 at the upper limit of the issue price.
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4.
LIC's IPO will even sign subscriptions on
Saturday (May 7), an unusual move aimed at attracting more investors. The
shares will be listed on May 17.
5.
The Centre plans to raise Rs. 21,000 crores
by diluting a 3.5 per cent stake in LIC.
6.
The IPO has the highest rating in the Indian
market. Previously, the highest fundraising was seen at the Paytm IPO last year
at Rs. 18,300 Cr. and Coal India in 2010 at Rs. 15,200 Cr.
7.
LIC contacted its policyholders via SMS and
other media to inform them about the sale of the part.
8.
The LIC has been announcing IPOs through various
channels for several months, including print and television commercials.
9.
The country's largest insurer has reduced its
IPO size to 3.5 percent from the 5 percent previously decided due to prevailing
market conditions.
10.
LIC was formed by the merger and nationalization
of 245 private life insurance companies on September 1, 1956 with an initial
capital of Rs. 5 Cr.
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