Life Insurance Corporation of India (LIC) IPO share allotment will be finalised on Thursday, 12 May, after the Rs 21,000-cr public offer received 2.95 times subscription. The LIC IPO has garnered a healthy response from investors as the offer has subscribed 2.95 times, receiving bids for 47.83 crore equity shares against LIC IPO size of 16.2 crore equity shares in total, as the six-day long subscription came to an end. The portion set aside for policyholders has been subscribed 6.11 times, employees bid 4.39 times the allotted quota, and retail investors 1.99 times, while the reserved portion of qualified institutional buyers have booked 2.83 times and that of non-institutional investors 2.91 times. Shares of LIC will be listed on BSE and NSE on May 17. The share allotment of LIC may be finalised on May 12.
The initiation of refunds or unblocking of funds from ASBA account will take place on 13 May, and the equity shares will get credited to depository accounts of allottees on 16 May. The LIC IPO investors can check the IPO allotment status via NSE and the registrar’s websites. The registrar of the issue is KFin Technologies, a SEBI-registered entity, responsible for the IPO allotment and refund processing. With its IPO, LIC has become the largest ever on Dalal Street, taking over from Paytm’s public issue that came last year. In 2021 Paytm had raised Rs 18,300 crore through the IPO, other large issues on Dalal Street include Coal India at nearly Rs 15,500 crore in 2020, and Reliance Power at Rs 11,700 crore which came in 2008.
Check LIC Share Allotment Status Via Registrar KFin Technologies Website
-To check the share allotment status, select the company name as ‘LIC — IPO’ from the drop-down list on the Link Intime India website when it gets declared.
-Check box either PAN, Application Number or Depository/Client ID. Accordingly, enter the permanent account number or Application Number or Depository/Client ID in the box.
-Enter the given captcha in the provided space and click the submit button.
-This will display the number of shares that have been applied and allotted to the investor.
Here’s How to Check LIC IPO Share Allotment Status on NSE
-Go to NSE’s official website — https://www.nseindia.com/
-Go to the “equity” option and select “LIC IPO” from the drop-down menu.
-Enter your application and PAN Card number.
-Complete the “I am not a robot” verification and access your LIC IPO share allotment status.
To check the LIC IPO share allotment on BSE, follow the same procedure here — https://www.bseindia.com/
LIC IPO GMP Today
A trader who did not wish to be named, said at the peak, the LIC GMP was at Rs 93-95 a share and then it started going downhill. It was trading between Rs 8 and Rs 10 a share on May 5. On May 6 and 10, it was very volatile, with a downward trend, he said. From Rs 8-9 a share, it fell to negative Rs 15 a share on Wednesday, he added.
The GMP has fallen steadily from its peak amidst worries of a lukewarm response from foreign investors. The IPO was subscribed mostly to retail and domestic institutional buyers. Foreign investor participation was muted.
The government, which raised Rs 20,500 crore from the sale of 3.5 per cent of its stake in the country’s largest insurer, said that the issue was an example of ‘Atmanirbhar Bharat’ (self-reliant India) and the issue saw interest from a cross section of investors. Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey termed the response to the IPO as “tremendous", adding that the issue saw good participation from all categories of investors.
LIC was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore. Its product portfolio comprises 32 individual plans (16 participating and 16 non-participating) and seven individual optional rider benefits. The insurer’s group product portfolio comprises 11 group products.
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