New Delhi, The IPO of Life Insurance Corporation of India, LIC will come on May 4 and money will be allowed to invest in it till May 9. The company has fixed a price band of Rs 902-949 per share for its Rs 21 thousand crore IPO on Tuesday. Earlier, the government had announced to reduce the size of the IPO. Earlier it was being said that the government would sell five to seven per cent stake. But later it was reduced to three and a half percent.
However, LIC employees and policyholders will get a discount in this IPO. According to the proposal filed with SEBI, LIC policyholders will have up to 10 per cent share reserve. LIC has set aside up to 10 per cent of the shares sold in the IPO for its policyholders. However, NRI policyholders and other policyholders who do not reside in India will not be able to avail this benefit.
