LIC policyholders likely to get Rs 60 discount on shares, IPO opens May 2

LIC IPO price band likely to be set at Rs 902-949 a share

The Centre is learnt to have set the price band for the initial public offering (IPO) of Life Insurance Corporation of India (LIC) at Rs 902-949 a share, and may offer a discount of Rs 60 to the policyholders. Retail investors and the employees of LIC, on the other hand, may get a discount of Rs 45 on subscribing to the shares of India’s largest insurer, a senior government official said.

The board of LIC has approved the discount to be offered to the three categories, reservations for policyholders and employees, and the issue dates, the official added.

The government may sell