LIC Press Conference Highlights: LIC IPO Opens On May 4, Price Band Rs 902-949

The LIC IPO is India’s biggest public offer in capital markets. (Representational)New Delhi: The Life Insurance Corporation’s (LIC) public issue offer, India’s biggest is finally here, with the long-awaited initial public offering (IPO) to open on May 2 for anchor investors and from May 4 to May 9 for the general public, the insurance behemoth confirmed on Wednesday at its press conference.The public offer will be in the price band of Rs 902-949, with a Rs 60 discount to policyholders and a Rs 45 discount for retail investors and employees.On Saturday, the LIC board approved a cut in its IPO issue size to 3.5 per cent from 5 per cent, the company said. The government will now sell 3.5 per cent of its stake in LIC for Rs 21,000 crore, valuing the insurance behemoth at 6 lakh crore.Here are the highlights on LIC IPO press conference:Get NDTV UpdatesTurn on notifications to receive alerts as this story develops.On LIC IPO, Paytm Chief Varun Sridhar Says, “a milestone event for Indian Capital markets.” “With the LIC IPO coming up, we believe that May will be a record month for demat account openings in recent times. It is a milestone event for Indian Capital markets and is expected to bring millions of new investors,” said Paytm money chief, Varun Sridhar. Beginning of LIC 3.0, Says LIC Chairman M R KumarBeginning of LIC 3.0, says LIC chairman M R Kumar”A Great Opportunity, Considered Unthinkable”: DIPAM SecretaryLIC IPO is a great opportunity and something was considered unthinkable and it was always an investors and is now coming to investors to become invested in, says DIPAM secretary Tuhin Kanta Pandey.Rs 45 Discount For Employees And Retail Investors Rs 45 discount for employees and retail investors. The employee reservation portion will be 5 per cent of the post-offer equity share capital and the policyholder reservation portion will be below 10 per cent of the offer size.India’s Biggest Public Issue Will Be In The Price Band Of ₹ 902-949India’s biggest public issue will be in the price band of ₹ 902-949, with a Rs 60 discount to policyholders and a Rs 45 discount for retail investors and employees.LIC IPO To Open On May 4LIC IPO, India’s largest, to open on May 4, close on May 9 



Source link