Mumbai, May 2: The hype around the LIC IPO increased tenfold ever since the Life Insurance Corporation of India (LIC) announced the public offering. The LIC IPO is all set to open for retail investors on May 4 whereas the subscription for anchor investors began on May 2. The mega issue will be closing on May 9, while the list will be announced on May 17.
The government-owned insurance giant, through this mega issue, is selling over 22.13 crore shares between Rs. 902 and Rs. 949 per share. Meanwhile, LIC's total IPO value is set at Rs. 21,000 crore. Policyholders will get a discount of Rs. 60 apiece, while retail employees and anchor investors will get an Rs. 45 discount. LIC IPO To Launch on May 4: Price Band, Important Dates; All You Need To Know About LIC IPO.
Those who wish to subscribe to LIC IPO can bid in a lot of 15 equity shares and multiples thereafter. However, it must be noted that the cut-off time for UPI mandate confirmation is Tuesday, May 10, 2021, upto 12:00 pm. If failed, then the application may not be considered. LIC IPO: Govt To Sell 3.5% Stake in LIC, IPO To Fetch Rs 21,000 Crore.
To apply for an IPO, you must have a Demat account, since this is where your shares will be stored after allotment, a Trading account, a UPI ID, and a Bank account.
Here's How to Apply for LIC IPO:
- Offline Method:
There are two ways to apply for an IPO. One is offline and the other is an online method. In the offline method, you will need to fill out an IPO form to your brokerage provider, showing interest in the bid. Once you place the bid, you will receive a mandate from the participating bank. Your application process for the IPO will be completed once you accept the mandate and complete the payment.
- Log in to online net-banking account.
- On homepage, go to the investment section
- Click on the IPO/e-IPO option.
- Fill in depository details and bank account details.
- After completing verification, click on the 'Invest in IPO' option
- Click on LIC IPO, then add the number of shares and the ‘bid price’.
- Read the terms and conditions of the bidding carefully
- Click on ‘Apply Now’
This IPO is the biggest ever in the history of the market. With this mega issue, the government-owned life insurer plans to sell a 3.5 percent stake in the company.
(The above story first appeared on LatestLY on May 02, 2022 07:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).