Price Band of ₹ 902 – ₹ 949 per equity share bearing face value of ₹ 10 each (“Equity Shares”).
- Discount – ₹ 45 per Equity Share to Retail and Eligible Employee Category and ₹ 60 per Equity Share to Policyholder Category
- Bid/Offer Opening Date – Wednesday, 4 May, 2022 and Bid/Offer Closing Date – Monday, 9 May, 2022.
- Minimum Bid Lot is 15 Equity Shares and in multiples of 15 Equity Shares thereafter.
- The Floor Price is 90.2 times the face value of the Equity Share and the Cap Price is 94.9 times the face value of the Equity Share.
Bengaluru, MAY 1, 2022: Life Insurance Corporation of India (“LIC” or the “Corporation”) has fixed the price band at ₹ 902 to ₹ 949 per Equity Share for its maiden public offer. The initial public offering (“IPO”) of the Corporation will open on Wednesday, 4 May, 2022 for subscription and close on Monday, 9 May, 2022. Investors can bid for a minimum of 15 Equity Shares and in multiples of 15 Equity Shares thereafter.
The IPO is through an offer-for-sale (“OFS”) of up to 221,374,920 Equity Shares by the President of India, acting through the Ministry of Finance, Government of India (“Selling Shareholder“) (“Offer”). The Offer includes a reservation for Eligible Employees and Eligible Policyholders.
LIC, India’s largest life insurer, had a market share of 61.6% in terms of premiums or GWP, 61.4% in terms of New Business Premium (or NBP), 71.8% in terms of number of individual policies issued, and 88.8% in terms of number of group policies issued, for the nine months ended December 31, 2021 (Source: the CRISIL Report).
