At Rs 1.20 lakh crore loss, LIC second top wealth destroyer in Asia this year
June 14, 2022 11:44 ISTLIC made its market debut at a discount of 8.11 per cent at Rs 872 per share on May 17.
LIC made its market debut at a discount of 8.11 per cent at Rs 872 per share on May 17.
LIC share is likely to remain under pressure this week as the lock-in period for anchor investors has ended.
LIC shareholders have lost around Rs 1,23,686 crore since its listing on May 17. The scrip is trading 20% lower than the IPO issue price.
LIC share price crashed nearly 3% each on NSE and BSE on Monday.
LIC Share Price Today, LIC Dividend News: LIC has announced to pay a dividend of 15 per cent per share to its shareholders.
The government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the IPO. It fetched Rs 20,557 crore.
LIC Share Price: LIC IPO was subscribed 2.95 times. The government fixed the issue price of LIC shares at Rs 949 apiece, the upper end of the IPO price band.
The LIC IPO which opened on May 4 for retail and other investors is set to be allotted on May 12.
LIC Allotment Status: LIC IPO Those who have bid for LIC IPO can check their allotment status at BSE website or at the official website of its registrar KFin Technologies Limited. LIC IPO GMP has turned negative.
LIC IPO: Against 16,20,78,067 shares on offer, 47,83,25,760 bids were received by the insurance giant.
LIC IPO: Overall, the country's biggest-ever IPO is more than fully subscribed as it has received 17,98,42,980 bids, as against 16,20,78,067 shares on sale.
The government aims to generate about Rs 21,000 crore by selling 3.5 per cent stake in the insurance behemoth. LIC's initial public offering (IPO), open for retail and institutional investors, is set to close on May 9. The issue period also includes bidding on Saturday, May 7.
LIC IPO Price, LIC GMP Today: LIC IPO will remain open for subscription till May 9. In the grey market, LIC shares are trading at a premium of roughly 9 per cent.
LICO IPO: The LIC share sale would be the biggest ever amount raised through an initial public offering in the Indian stock market.
In the run-up to the mega IPO, on February 13, the government had filed the draft red herring prospectus (DRHP) with the regulator giving details of financial results till September. The DRHP got Sebi approval early this month.
If the government misses the May 12 window available with it, LIC would have to file fresh papers with Sebi giving the results of December quarter and also update the embedded value.
LIC IPO would see sale of 31.6 crore shares or 5 per cent stake of the government. Employees and policyholders of the insurance behemoth would get a discount over the floor price.
Finance Minister Nirmala Sitharaman too had indicated review of the IPO in view of the evolving geopolitical situation. "Ideally, I would like to go ahead with it because we had planned it for some time based purely on Indian considerations," Sitharaman had said in an interview with the Hindu Business Line.
The government is banking on the listing of LIC IPO and BPCL strategic sales for meeting its disinvestment.
In its caution notice, LIC has also asked the public not to fall prey to proposals of such entities which are misusing its logo on social media platforms like Twitter, Facebook, Instagram and YouTube and other social media.
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