LIC IPO price, date, lot size and more: All you need to know
According to the red herring prospectus, the IPO will include an offer for sale of 22.13 crore equity shares at a price of Rs 902-949 each.
Zee Media Bureau
| Apr 29, 2022, 18:45 PM IST
The Life Insurance Corporation (LIC) announced on Wednesday that its initial public offering (IPO) will take place on May 4. The issue will be closed on Monday, May 9.
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The government would sell shares in the price range of Rs 902-949. According to the state-owned insurer, the government will sell shares in the price range of Rs 902-949. The government intends to sell a 3.5 percent stake in the company, or 22.13 crore shares, in order to collect Rs 20,557.23 crore. This is far less than the original estimate of Rs 60,000 crore.