LIC shares allotted at Rs 949 apiece; Govt mops up Rs 20,557 crore

ANI
13 May 2022, 18:07 GMT+10

New Delhi [India], May 13 (ANI): Life Insurance Corporation (LIC) of India shares have been allotted to the eligible bidders of the initial public offering (IPO) at Rs 949 apiece, the upper end of the IPO price band.

Through this IPO, the government has raised Rs 20,557 crore by diluting 3.5 per cent of its stake in the country's largest insurer.

Policyholders, retail investors and employees have been offered discounts. Policyholders have been given a discount of Rs 60 per share. So the policyholders have been allocated the shares at Rs 889 apiece. Retail investors and employees have got the shares at Rs 904 apiece.

The shares have been issued to the eligible subscribers. Unsuccessful bidders will get the refunds. The shares will be credited to the investors' demat accounts on Monday.

LIC is scheduled to make its stock market debut on May 17.

The initial public offering of LIC was subscribed 2.95 times. The IPO opened for public subscription on May 4 and closed on May 9. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.

More Information

null in null

Lifestyle

Section

New French law targets smoking near schools, public spaces

PARIS, France: France is taking stronger steps to reduce smoking. A new health rule announced on Saturday will soon ban smoking in...

Methionine Restriction Could Extend Lifespan, Boost Health

VILNIUS, Lithuania – A growing body of research suggests that selectively restricting a single nutrient in our diet could have profound...

Federal judge blocks President Trump's asylum ban at the Southern border

Washington, DC [US], July 3, ANI: A federal judge on Wednesday blocked United States President Donald Trump's asylum ban at the Southern...

3 indians abducted from factory amid al-Qaeda linked terrorist attack; India urges Mali to secure their safe, swift release

New Delhi [India], July 3 (ANI): The Ministry of External Affairs (MEA) has expressed deep concern over the abduction of three Indian...

Quad focused on territorial integrity, sovereignty and rule of law, says US State Department's Mignon Houston

Washington, DC [USA], July 3 (ANI): The Quad Foreign Ministers' Meeting (QFIM) held in Washington placed strong emphasis on the importance...

Congress' Hanumanth Rao visits Sigachi Pharma Factory explosion site, meets survivors

Sangareddy (Telangana) [India], July 3 (ANI): Telangana's Senior Congress leader V. Hanumanth Rao visited the Sigachi Pharma Factory...

International

Section