Status of LIC IPO Share Allocation: The initial public offering (IPO) of Life Insurance Corporation (LIC) has received decent response from all segments of investors. The issue was most subscribed by LIC policyholders, who were offered a lucrative discount of Rs 60 per share at the top of the price band.
The LIC IPO, which was open from May 4 to 9, had 2.95 subscriptions on the last day. In contrast to the 16,20,78,067 shares offered, the state-run insurance company received bids for 47,83,67,010 shares. The portion reserved for policyholders was subscribed 6.12 times, then bid for the employee quota 4.4 times. As for Retail Private Investors (RIIs), Non-Institutional Investors and Eligible Institutional Buyers (QIBs), the number of bid subscriptions stood at 1.99 times, 2.91 times and 2.83 times respectively.
Interestingly, the insurance IPO was also open for subscription on weekends.
Earlier, the government had fixed the LIC IPO price band at Rs 902-949 per equity share for India’s largest IPO. The government aims to raise Rs 20,557 crore at the top end of the price band through a 3.5 per cent stake in Public Insurance.
Retail investors and eligible employees were given a discount of Rs 45 per equity share and policyholders were given a discount of Rs 60 per share.
Meanwhile, the allotment of LIC IPO shares is set to start from Thursday, May 12 Those who have applied for this IPO can check the status of both BSE and Registrar of IPO Caffeine Technologies.
How to check the status of LIC IPO allotment on BSE
Step 1- Login to BSE link – bseindia.com/investors/appli_check.aspx
Step 2- Enter IPO Name- Life Insurance Corporation
Step 3- Enter the IPO application number
Step 4- Enter the details of PAN card
Step 5 – Click on ‘I am not a robot’
Step 6 – Click on ‘Submit’ button
How to check LIC IPO allocation status on KFintech website
1) Login directly to KFintech website – https://ris.kfintech.com/iposstatus/ipos.aspx
2) Select IPO from the drop down – LIC IPO
3) Now select the application number / DPID / Client ID / PAN
4) Enter the application number following the captcha code
5) Now click on ‘Submit’ option and the status of your IPO application will be available on the screen of your computer monitor or smartphone.
LIC IPO full timeline
LIC IPO Application Start Date: May 4, 2022
LIC IPO Application Deadline: May 9, 2022
LIC IPO Allocation Start Date: May 12, 2022
LIC IPO Refund Commencement: May 13, 2022
LIC IPO allotment deadline: May 16, 2022
LIC IPO Listing Date: May 17, 2022
The above dates are according to the discount broker upstock
As of December 31, 2021, LIC is the largest asset manager in India, with a stand-alone ₹ 40 trillion AUM (assets held to cover policyholders’ investments, shareholder investments and joint liabilities) on an individual basis, which was more than 3.2 times the total AUM of all personal life insurers in India. , About 15.6 times more than AUM, the second largest player in the Indian life insurance industry in terms of AUM and 1.1 times more than AUM in the entire Indian mutual fund industry, an IPO notes from LKP Securities.
LIC was formed on September 1, 1956 through the consolidation and nationalization of 245 private life insurance companies in India with an initial capital of ₹ 50 million. From the company’s corporation until 2000, LIC was the only life insurer in India. In September 2020, LIC was identified by IRDAI as a Domestic Systematically Important Insurer (“D-SII”) on the basis of size, market importance and domestic and global interconnection.