For more than sixty-five years, the Life Insurance Corporation of India (LIC) has been India’s leading life insurance provider. LIC is also the country’s oldest life insurance company. It is thus not surprising that it is considered one of the most widely awaited initial public offerings in India. In its capacity as the issue’s promoter, the Government of India is making available a staggering number of shares—22.14 crore—through the offering. Read the article to know about LIC IPO Allotment Status, Check Online NSE, BSE, Zerodha, IPOWatch.
LIC IPO Allotment Status
The initial public offering (IPO) of Life Insurance Corporation (LIC), India’s largest insurance business, will begin tomorrow, May 4, putting an end to the anticipation that has been building up on Dalal Street. The option to invest in anchor companies was made available for the first time on May 2, and owing to the high level of interest, it was quickly oversubscribed.
Meanwhile, the main issue of the LIC IPO is scheduled to open for investing tomorrow, and investors of all stripes are anticipating the opportunity to participate in the offering. The business has also set up a distinct quota for policyholders for the first time. It means that policyholders who meet the requirements will be entitled to get a discount on LIC share purchases and a part of the reserved quota equal to ten percent.
The initial public offering (IPO) of Life Insurance Corporation of India, often known as LIC IPO, is the insurance giant’s first selling of shares. The whole deal is considered an offer for sale (OFS), under which the President of India will dispose of a 3.5% share in the firm by way of the Ministry of Finance. It is anticipated that the LIC initial public offering would bring in Rs. Twenty-one thousand crores at the higher end of the pricing range will be essential for the government to accomplish its divestment goals. The pricing range for each equity share in the LIC IPO has been set at 902 to 949 rupees.
How to apply for LIC IPO?
Retail investors may submit their applications for the LIC IPO in various methods. Two different categories may be selected: one is reserved for LIC Policyholders, and the other is a general group that includes all investors. Suppose you are a policyholder with LIC and choose this category. You will need to provide the appropriate information, input the bid price, confirm your selection, and then make the payment using the UPI app.
To apply under the policyholder category, you need to have a LIC Policy that commenced on or before February 13, 2022. It is one of the qualifying conditions. If you wish to apply under this category, your PAN Card must also be connected with the insurance for you to be considered. LIC policyholders are eligible for perks such as a reduction on the issue price and a reserved allotment of 10 percent of the total available funds.
If you are an investor and want to apply, you need to have two things: a Permanent Account Number (PAN) card and a Demat account with us. In point of fact, for the Income Tax Department to monitor the comings and goings of each investor’s funds, the PAN Card has been made obligatory for all initial public offerings (IPOs). A Demat Account is essential because your shares will be credited to this account if you are granted an allocation.
LIC IPO Apply Online
Opening a Demat account is simple and takes very little time, so you may do it whenever you please. You can submit your application for the LIC IPO using our online trading platform. You may monitor the progress of your initial public offering application by going to the IPO and Order Book section of the HDFC Securities website. All you have to do is log in. Last but not least, you may also submit your application for the LIC IPO at any of our nearby branches, should you want to do so.
LIC IPO Allotment
Your HDFC Demat account will get the assigned shares of your LIC initial public offering (IPO) as soon as they become available. On the day of the listing, you would have the ability to sell them at the exchanges where they are traded. Because the initial public offering (IPO) has not yet been initiated, some particulars, such as verifying the allocation status of the LIC IPO, are not yet accessible. To ensure that the allocation procedure is successfully finished, it is customarily carried out around one week following the closing date of the IPO in question.