Business Standard

Life Insurance Corporation of India - IPO

Issue Type

Book Building

Issue Size (₹ Cr.)

20,557.20 cr

Price Range (₹)

949

Lot Size

15

Min Investment (₹)

14,235.00

Listing Exchange

MumbaiNSE

Open Date

04-May-2022

Close Date

09-May-2022

Listing Date

17-May-2022

Life Insurance Corporation of India News

    The Shares of Life Insurance Corporation of India have now been listed.

    Life Insurance Corporation of India IPO Details

    Initial public offer of 221,374,920 equity shares of face value of Rs. 10 each (Equity Shares) of Life Insurance Corporation of India (The Corporation or the Issuer) through an offer for sale of 221,374,920 equity shares by the president of india, acting through the ministry of finance, government of india (Selling Shareholder) for cash at a price of Rs. 949 per equity share ('Offer Price), aggregating to Rs. 20557.23* crores (the Offer). The offer includes a reservation of 1,581,249 equity shares aggregating to Rs. 142.95 crores (constituting 0.025% of the post-offer paid-up equity share capital) for subscription by eligible employee(s) (the Employee Reservation Portion) and a reservation of 22,137,492 equity shares aggregating to Rs. 1968.02 crores (constituting 0.35% of the post-offer paid-up equity share capital) for subscription by eligible policyholder(s) (Policyholder Reservation Portion). The corporation and the selling shareholder, in consultation with the book running lead managers (brlms), offered (i) a discount of 4.74% on the offer price (equivalent of Rs. 45 per equity share) to the retail individual bidders bidding in the retail portion (Retail Discount), (ii) a discount of 4.74% on the offer price (equivalent of Rs. 45 per equity share) to eligible employee(s) bidding in the employee reservation portion (Employee Discount), and (iii) a discount of 6.32% on the offer price (equivalent of Rs. 60 per equity share) to the eligible policyholder(s) bidding in the policyholder reservation portion (Policyholder Discount). The offer less the employee reservation portion and policyholder reservation portion is hereinafter referred to as Net Offer. The offer and net offer shall constitute 3.5% and 3.13%, respectively, of the post-offer paid-up equity share capital of the corporation. The face value of equity shares is Rs. 10 each. The offer price is 94.9 times the face value of the equity shares. *Subject to finalisation of basis of allotment.

    Objective of issue

    To achive the benefits of Listing the Equity Shares on the Stock Exchanges.

    Life Insurance Corporation of India Contact Details

    Life Insurance Corporation of India, Karvy Selenium Tow-B, 31&32 Financial Dist, Nanakramguda, Hyderabad-500032

    Phone - 91-40-67162222

    Fax - 91-40-23001153/23420814

    Email - investors@licindia.com

    Website - www.licindia.in