LIC IPO share allotment likely today

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LIC IPO share allotment likely today, The insurance sector behemoth Life Insurance Corporation of India (LIC) had its initial public offering (IPO) subscribed 2.95 times over the 16.20 crore shares on offer during the subscription period of May 4-9, 2022. The price range for the stock was set at Rs.902-949 per share.

According to data from the National Stock Exchange, the LIC IPO received bids for over 47.83 crore (47,83,67,010) shares out of a total issue size of over 16.20 crore (16,20,78,067) shares.

The shares reserved for qualified institutional buyers were subscribed 2.83 times, while non-institutional investors were subscribed 2.91 times and retail individual investors (RIIs) were subscribed 1.99 times, according to the statistics. Apart from that, the policyholders segment was 6.12 times subscribed, while the employees segment was 4.40 times enrolled.

The IPO is wholly an offer-for-sale, with the central government selling 22.13 crore shares (22,13,74,920) or 3.5 percent of its holding in the life insurer.

Investors are now anticipating the LIC IPO’s share allotment date. According to the red herring prospectus, the corporation is expected to complete the allotment by Thursday, May 12, 2022. If you applied for the LIC IPO, here’s how to check the status of your allotment once it’s been announced.

The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies To view their allotment status, applicants must pick LIFE INSURANCE CORPORATION OF INDIA LIMITED from the drop-down menu, input their Application No., DPID/Client ID, or PAN, enter the Captcha code (which is given in digits), and click Submit.

Applicants can now monitor the progress of their allotment on the BSE website, in addition to the registrar’s website. To examine their status, they must first pick Equity as the Issue Type, then select LIFE INSURANCE CORPORATION OF INDIA LTD from the Issue Name drop-down list, input their Application Number and PAN Number in the appropriate areas, and then click on search.

The shares of LIC are expected to be listed on the NSE and BSE on Tuesday, May 17, 2022.

The book running lead managers for the IPO are Kotak Mahindra Capital Company, Axis Capital, BofA Securities India, Citigroup Global Markets India, Nomura Financial Advisory and Securities India, Goldman Sachs India Securities, ICICI Securities, JM Financial, JP Morgan India, and SBI Capital Markets.

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