LIC has fixed the price of one share of IPO at Rs 949. According to the source, the offer of this company will be listed in the stock market on May 17. The source gave this information on condition of anonymity. There is no response to the mail sent to LIC. The government plans to raise Rs 21 thousand crore through this IPO.
IPO got good response from investors before closing
LIC's IPO got great reaction from financial backers prior to shutting. Particularly unfamiliar assets bought into it without a second to spare. LIC had given a markdown of Rs 45 to its workers and retail financial backers on the deal cost. While policyholders got a markdown of Rs 60.
Price range of offer kept between Rs 902 to 949
The organization had kept the value scope of the proposal between Rs 902 to Rs 949. Toward the finish of the offering on May 9, the organization's IPO had got 2.95 times oversubscription. The public authority has sold around 3.5 percent stake in this IPO.
280 million approach organization has been given
The 66 year old organization is a main organization in the protection area. Discussing issuance of approaches, the organization has given around 280 million strategies. It has been the fifth worldwide insurance agency as far as top notch assortment in 2020.
Self-reliant India IPO: DIPAM Secretary
On the conclusion of LIC's IPO, TK Pandey, Secretary, Department of Finance, Ministry of Finance, had said that LIC IPO is an IPO of confident India since it has demonstrated that the limit of homegrown financial backers has expanded and presently we can check out at unfamiliar financial backers for the progress of any IPO. Not reliant upon financial backers. The value band of LIC IPO was not fixed thinking about the instability on the lookout.
