LIC IPO subscription on Saturday, Sunday | How to apply
India Today
One can bid for India's biggest initial public offering (IPO) during the weekend also. Read this to find out how you can apply for LIC's IPO.
The subscription of LIC's Initial Public Offering (IPO) will remain open during the weekend for willing investors. The subscription period will close on May 9. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.
The government has fixed the LIC IPO's price band at Rs 902 to Rs 949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share.
The Reserve Bank of India (RBI) has said that Application Supported by Blocked Amount (ASBA)-designated bank branches will remain open for the public on Sunday to facilitate processing of applications for LIC's IPO.
The government of India, in order to facilitate bidding for the LIC IPO, has requested that all bank branches designated to process ASBA applications may be kept open for the public on May 8, 2022 (Sunday), RBI said in a statement on Wednesday.
"The matter has been examined and it has been decided that banks may keep all their ASBA designated branches open on May 8, 2022 (Sunday) for the above purpose," it said.
Generally, ASBA is the mechanism through which investors apply for shares in a public issue.
- You need to log-in to their online net-banking accounts.
