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LIC IPO sees 100% subscription on Day 2; issue to remain open on weekend

The IPO will close on May 9. The government aims to generate about ₹21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.

All India United Trade Union Centre activists shout slogans during their protest over the LIC's IPO in Kolkata, (PTI)
All India United Trade Union Centre activists shout slogans during their protest over the LIC's IPO in Kolkata, (PTI)
Updated on May 05, 2022 08:12 PM IST
By | Written by Aniruddha Dhar

LIC IPO: On Day 1, overall subscription at 67% | Key updates 

The LIC has fixed the price band at ₹902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders.

A man walks past a hoarding of Life Insurance Corporation of India (LIC) in Mumbai.(REUTERS file)
A man walks past a hoarding of Life Insurance Corporation of India (LIC) in Mumbai.(REUTERS file)
Updated on May 04, 2022 09:00 PM IST
By | Written by Aniruddha Dhar, New Delhi

LIC IPO price band set at 902-949 a share for 21,000 crore: Report

The LIC would offer a ₹60 discount for policyholders and ₹40 for retail investors and employees. The issue is expected to open for subscription on May 4 and is expected to close on May 9, PTI reported. 

The government had in February planned to sell a 5 per cent stake or 31.6 crore shares of the insurance company and had filed draft papers with Sebi.
The government had in February planned to sell a 5 per cent stake or 31.6 crore shares of the insurance company and had filed draft papers with Sebi.
Updated on Apr 26, 2022 08:29 PM IST
By, New Delhi
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