As per fresh buzz coming in from the market, it’s expected that LIC IPO will most probably launch on March 10th, which is Holi.
Checkout the expected price band, dates of the IPO and more, based on the information available with us.
LIC IPO On March 10th?
After the Govt of India filed the draft red herring prospectus (DRHP) for the mega LIC IPO in February, speculations are rife that the IPO launch date will be March 10th.
As per the market rumors, LIC IPO will launch on March 10th, and will end on March 14th.
Govt or LIC hasn’t confirmed this yet, and this based on the information filed under the DRHP, and market buzz.
If we believe the reports, then each LIC share will be priced between Rs 2000 to Rs 2100, and the total lot size will be 31 crore share approximately.
7 shares will be the market lot.
Reservation For LIC Policy Holders
As per the information filed under the DRHP, 10% of the overall shares within LIC IPO will be reserved for LIC policy holders, and 5% for LIC employees.
This means that LIC shareholders will be able to get 3.16 crore shares, overall.
There are around 28 crore LIC shareholders as of now.
There are around 13 lakh LIC agents in the country, who will now try to inspire these LIC policyholders to get the LIC shares, under the 10% special quota.
Price band announcement is expected on March 7th, and the launch of LIC IPO from March 10.
LIC IPO will be India’s biggest IPO, with a valuation of more than Rs 5 lakh crore.
For getting LIC shares, it’s mandatory to have the PAN Card of LIC policyholders linked with the LIC account, and a demat account as well.
We will keep you updated, as more details come in.
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