ANI
13 May 2022, 22:37 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)
Get a daily dose of Mexico Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.
More InformationRecent research has linked playing video games in childhood with an increase in intelligence. While parents and carers may be ...
New York [US], May 23 (ANI/Xinhua): New York City, the most populous city in the United States, has entered into ...
Lahore [Pakistan], May 23 (ANI): Pakistan Prime Minister Shehbaz Sharif has issued a warning against Pakistan Tehreek-e-Insaf's (PTI) Chairman Imran ...
Beijing [China], May 23 (ANI): The United States has said it was "deeply concerned" about United Nations High Commissioner for ...
New Delhi [India], May 23 (ANI): In a major relief, the Centre on Monday relaxed family pension rules for missing ...
The Ukraine war and other conflicts pushed the number of people forced to flee conflict, violence, human rights violations and ...
SAN FRANCISCO, California: In a letter released this week, the archbishop of San Francisco, Salvatore Cordileone, said U.S. House Speaker ...
BERLIN, Germany: At least 43 people were injured after a tornado struck the western German city of Paderborn on May ...
WASHINGTON D.C.: The Department of Justice has said that an American citizen and four Chinese intelligence officers have been charged ...
WASHINGTON D.C.: Due to the inability of businesses to hire enough workers, the U.S. has announced that it will grant ...
WASHINGTON D.C.: U.S. senators Elizabeth Warren and Mike Rounds have introduced a bipartisan resolution requesting the Federal Trade Commission (FTC) ...
MOSCOW, Russia: According to preliminary data released by the finance ministry this week, almost three months after Moscow's invasion of ...