Business

Those who suffered losses in LIC’s IPO will now be rich! The company can give a big gift

Photo:FILE

IPO

Highlights

  • The insurance company will announce its quarterly results for the first time on May 30
  • LIC shares closed at Rs 824.80 on BSE
  • LIC’s IPO was subscribed 2.95 times

LIC IPO News: People were waiting for the biggest LIC IPO in the history of Indian stock market for many months. The IPO did come but investors felt nothing more than disappointment. The stock kept falling below its listing price. But now Life Insurance Corporation of India has cropped up to give big relief to its customers.

It has been announced by LIC this week that its board will consider giving dividend. The insurance company will announce its quarterly results for the first time on May 30. It is believed that the dividend will be announced during this time. In such a situation, if you had also invested in IPO and are disappointed with the fall, then do not sell the shares, it will give you profit.

A report in this regard said that in the information given to the stock market, the company has said that it will discuss the financial results for the quarter and year (2021-22) ended 31 March 2022 as well as the payment of dividend. Will announce

what is dividend

Actually, dividend is that part of the profit of any company which is distributed by the company to its shareholders. When a company makes a profit, it pays out a proportion of the profit to the shareholders in the form of dividends. Significantly, on Tuesday, the company’s stock closed at Rs 824.80 on the Bombay Stock Exchange (BSE).

Biggest IPO

LIC’s IPO was the country’s biggest IPO, which opened for subscription on May 4 and closed on May 9. It had earned Rs 20,557 crore from the market. Let us tell you that LIC’s IPO got 2.95 times subscription.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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