All you need to know about LIC’s mega public offer
India Today
The LIC IPO will be an opportunity for Life Insurance Corporation of India's policyholders and employees and investors to try their luck.
The much-anticipated initial public offer (IPO) of the Life Insurance Corporation of India (LIC) is set to open next Wednesday, May 4. With an issue size of Rs 21,000 crore, it is going to be the largest-ever IPO in Indian history.
The price band of LIC shares will be Rs 902-949. However, retail investors and eligible employees will get a discount of Rs 45, and LIC’s policyholders will get a discount of Rs 60.
Most of the big IPOs in recent times have disappointed investors. Experts, however, argued that LIC might be different, stating the offer price was quite attractive and the company’s fundamentals were solid.
Leading investment advisor Sandip Sabharwal told India Today that even though predicting the market was a risky business, LIC shares are expected to list at a 10-15 per cent premium to their issue price. He added that the low price of LIC shares posed an advantage.
