Image Source : PTI (FILE) LIC IPO allotment today LIC Allotment Status Check, LIC GMP: LIC IPO Life Insurance Corporation (LIC) of India, the country’s largest insurer, is likely to finalise the allotment of its IPO today (May 12). The subscription status will be available online. Those who have bid for LIC IPO can check their allotment status at BSE website or at the official website of its registrar KFin Technologies Limited. LIC had fixed the price band at Rs 902-949 per equity share for the issue. LIC IPO closed on Monday after getting over-subscribed nearly 3 times. Against 16,20,78,067 shares on offer, 47,83,25,760 bids were received. While the institutional investors’ portion was subscribed 2.83 times, the retail investors’ portion was subscribed 1.99 times. The portion reserved for policyholders and employees was subscribed 6.12 and 4.40 times, respectively, while the corporate portion was subscribed 2.91 times. The government is diluting 3.5 per cent stake in LIC through the IPO at a price band of Rs 902-949 a share. The government expects to garner around Rs 20,000 crore from the share sale. LIC IPO is the biggest initial public offering ever in the country. So far, the amount mobilised from the IPO of Paytm in 2021 was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at nearly Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore. LIC IPO GMP LIC shares will be listed on stock exchanges — BSE and NSE on May 17. Meanwhile, the grey market premium of LIC shares has declined, indicating the listing may be in the negative. On Wednesday, LIC shares in the unofficial market were commanding a discount of Rs 20 per share over its issue price of Rs 949. DIPAM Secretary Tuhin Kanta Pandey said that the LIC IPO has met with tremendous success across all the segments. “Domestic investors have successfully pulled off the LIC IPO. It is an example of Aatmanirbhar Bharat,” he said, adding we are not dependent on foreign investors only. It will help deepen the capital markets, the Secretary added. LIC was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore. Its product portfolio comprises 32 individual plans (16 participating and 16 non-participating) and seven individual optional rider benefits. The insurer’s group product portfolio comprises 11 group products. Latest Business News
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