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LIC IPO opens today: How to apply

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Google Oneindia News

New Delhi, May 04: The Initial Public Offering (IPO) of The Life Insurance Corporation opens for retail and institutional investors on Wednesday and will close on May 9.

    LIC’s IPO opened for subscription today in the market | Oneindia News
    Representational Image

    LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will also get a discount of Rs 45 per equity share and policyholders will get a discount of Rs 60 per share.

    In the behemoth life insurance and general insurance provider, the government shall offload 3.5% stake as against the previously sought 5% stake owing to the market conditions.

    In the country's largest ever IPO which is a complete OFS - the centre plans to raise Rs. 20,557.23 crore much lower than the earlier estimated of about Rs. 60,000 crores.

    LIC enjoys a strong market share of 61.6 per cent based on total premium and 61.4 per cent based on new business premium in the first nine months of FY22.

    What is worrying is that LIC has been consistently losing market share to private peers.

    The government will remain the largest shareholder and key manager even after the IPO. Thus, any future government intervention might be detrimental to shareholders.

    LIC IPO opens today: How To Apply

    Investors need to log-in to your online net-banking account.

    Go to the investments section and click on the IPO/e-IPO option.

    Investors will be required to fill depository details and bank account details.

    After the verification process, investors need to go to "Invest in IPO".

    Now, investors need to enter the number of shares and the "bid price".

    Read the "Terms and Conditions" document carefully before placing any bid.

    Investors can then confirm and place their order by clicking on "Apply Now".

    How to invest in LIC IPO via SBI YONO app

    Open the SBI YONO App on your smartphone

    Login on the YONO SBI app using credentials Step

    Under the main menu, go to the Investment section

    Now, click on Open Demat & Trading Account

    Fill in all the required details and confirm

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