LIC IPO GMP today: Check latest details here
LIC IPO GMP today: The subscription process of the initial public offering (IPO)of the Life Insurance Corporation of India (LIC) is in process. Today, May 6 being the 3rd day of the bidding process, people who are willing to apply for the LIC IPO can do so online. The issue opened for subscription on Wednesday, May 4 and will be concluding on May 9, 2022. LIC IPO GMP today (grey market premium) has remained steady at Rs. 65, according to market observers, as per a report by livemint.com. LIC GMP was Rs. 65 on Thursday, Wednesday too.
Coming to the subscription details, the shares of the ₹21,000-crore issue was subscribed 0.67 times on Day 1. The portion reserved for Qualified Institutions (QIB) was subscribed 0.33 times, Non-institutional Buyers 0.27 times, and Retail Investors 0.60 times. While on day 2, the issue was subscribed 1.03 times. The portion reserved for Qualified Institutions (QIB) was subscribed 0.40 times, Non-institutional Buyers 0.47 times, and Retail Investors 0.93 times on day 2.
The price band of the LIC IPO has been fixed between Rs. 902 and Rs. 947 per equity share. Retail Individual and Eligible Employee Category are being provided a discount of Rs. 45 per equity share and Rs. 60 equity share to Eligible PolicyHolder Category. It can be noted that the issue will remain open for subscription Saturday, May 7, 2022.
Discount of Rs. 45 per Equity Share will be provided to Retail Individual and Eligible Employee Category and of Rs. 60 Equity Share to Eligible PolicyHolder Category. LIC's public issue of 221.37 million equity shares represents a 3.5 percent stake, which is entirely an offer for sale by the government.
The book running lead managers of the IPO include Kotak Mahindra Capital Company Limited,
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