LIC IPO: LIC’s IPO launched today, know what’s going on, at least that much money will have to be invested

Today on May 4, the IPO of Life Insurance Corporation of India was launched, which is getting tremendous response from the investors as soon as it is launched. Opened at 10 in the morning, this IPO was subscribed to 4 percent within just half an hour of opening. Let us inform that a total of 16,20,78,067 shares are to be bid in this IPO. In the first few minutes, around 70,61,970 shares have been bid. Investors will be able to invest in LIC’s IPO from May 4, 2022 to May 9, 2022.

According to information received from sources, LIC IPO has got 12 percent subscribed by investors within an hour. The government wants to attract more and more retail investors through this IPO. There was already a lot of interest in the market regarding LIC’s IPO. This is the reason why it has been subscribed by around 12 per cent within just 1 hour of the launch of the IPO.

Let us tell you that before launching the IP on May 4, LIC has given information about this IPO by sending a message to its insured. LIC has said that it has fixed the share price between Rs 902-949. Also, LIC has reserved 15,81,249 shares for its employees while 2,21,37,492 shares for its insured. Also, shares worth Rs 9.88 crore have been reserved for QIBs and Rs 2.96 crore for non-institutional buyers. At the same time, to attract retail investors, they are getting a discount of Rs 45 per share. The company has given a discount of Rs 60 per share to the insured giving a special discount in this IPO.