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LIC IPO Opens Today: How to Buy LIC IPO Shares, How to Apply for a LIC IPO?

May 4, 2022

On May 4 India’s largest life insurer, Life Insurance Corporation of India (LIC) , opened its initial public offering (IPO). The LIC IPO opens now, for subscribers and investors who want to invest in the largest public issue in India’s history.

The LIC IPO, which is an offer for sale (OFS), share price has been fixed at Rs 902 to Rs 949 each, with discounts for policyholders, employees and retail investors. LIC IPOs are going to be open for subscription from May 4 to May 9, during which interested investors can bid for the issue.

LIC policyholders, retail investors and workers will get a reduction if they invest in the LIC IPO. LIC has fixed the discount of Rs 45 for retail investors and for their employees, and Rs 60 for policyholders. So the effective price for retail investors and workers will be Rs 904, while for LIC policyholders, it'll be Rs 889 if they invest in the LIC IPO.

As stated by market observers, LIC IPO grey market premium (GMP) today is ₹85, which is ₹16 higher from yesterday's grey market premium of Rs 69.

Things to Note 

  • LIC IPO Date: the public issue will open on 4th May 2022 and it'll remain open for bidding till 9th May 2022.
  • LIC IPO Price : The GoI has fixed the LIC IPO price band at ₹902 to ₹949 per equity share.
  • LIC IPO Size: The GoI aims to raise ₹21,008.48 crore.
  • LIC IPO lot size: An applicant is going to be ready to apply in lots and one LIC IPO lot comprises 15 LIC shares.
  • LIC IPO application limit: One bidder can apply for a minimum of one lot whereas maximum lots allowed for a single bidder is 14.
  • LIC IPO allotment date: the likely date for the share allocation announcement is 12th May 2022.
  • Shares of LIC will list on the BSE and NSE and therefore the likely date for share listing is 17th May 2022.

How to Apply for a LIC IPO?

First  you have to ensure that you open a demat account, which is used for trading purposes.

A demat account can be opened through platforms like Groww, Upstox, Zerodha and through online banking platforms like SBI, ICICI and SBI among other depository platforms.

How to complete the e-KYC process and follow the steps below:

  • Once you have opened the demat account, visit your profile on the depository participant’s platform which you have chosen.
  • While navigation method or process may vary in different platforms, you would want to look at the IPO section on the platform you are navigating through 
  • Now, click on that option and select the LIC IPO tab, after which you would want to look for the relevant category across to the application.
  •  If you are a retail, employee or policyholder investor, click on that option to get relevant discounts. 
  • Enter your depository information, choose the number, place a bid and click on the submit or apply option.
  • After this step you will receive a mandate from the participating bank. 
  • Your application process will be done once you accept all the requirements of the process.
  • Then click on the ‘apply now’ or submit button. 
  • Now complete the payment option by using UPI to buy LIC IPO shares at discounted rates.

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