Following market speculation, the LIC initial public offering (IPO) has been set for May 04th, 2023. An official announcement will be made shortly. Initial public offerings (IPOs) by LIC are expected to be among the largest in India. LIC IPO GMP filed for a complete offering for sale without Fresh Issue. A mammoth initial public offering (IPO) is being planned for the Government to sell 5 percent of the company.
LIC IPO GMP
One of the oldest and largest insurance companies globally, Life Insurance Corporation of India (LIC), has been operating since 1876. LIC has a total fund of 28.3 trillion dollars as of March 2019. During the year 2018 – 2019, the total value of vendor programs was 21.4 million dollars. In the fiscal year 2018–19, the Life Insurance Corporation of India satisfied 26 million claims. It has 290 million policyholders, according to the company.
According to the report, the Indian Government would sell its 5 percent investment in the LIC initial public offering (IPO). The Government will raise money from the sale of that 5 percent stock. An overall amount of 316,249,885 shares will be sought by the Federal Government. The share will be offered at ten cents a share for those who purchase it. Furthermore, there will be a set quotation for retail investors, accounting for about 35% of the IPO’s total proceeds.
LIC IPO GMP How to Apply
According to industry estimates, the Life Insurance Corporation controls around 72 percent of the market and approximately 66 percent of the overall premium collection. The company’s value remained at Rs. 9 lakh to Rs. 10 lakh crore. The firm was started in 1956, which is a long time ago. It is the result of the amalgamation of 245 insurance firms.
The corporation had a monopoly on life insurance until the 1990s, at which point the Government decided to give the private sector a chance in life insurance. The company has over 2000 offices in India, including eight regional offices in Delhi, Chennai, Mumbai, Bhopal, Hyderabad, Patna, Kanpur, and Kolkata. They have more than 100 divisional offices, 1100 micro offices, and more than 1500 satellite offices, to name a few numbers.
The first public offering (IPO) of LIC will be listed on the major stock markets, namely the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange) (National Stock Exchange). You must have a DEMAT account to purchase LIC IPO online.
Angelone, groww, Zerodha and other similar websites and applications let you register for an IPO. You may make payments using your UPI id if you have one. You must advise your broker that the IPO Application will be submitted using your UPI ID.
LIC IPO GMP Share Price Today
According to the current LIC IPO GMP, the price is fluctuating, with the current price of 25 per share being the current price. The GMP price for the LIC’s first public offering (IPO) is about 2.5 times the share price that LIC would issue for ordinary investors.
In addition, there is excellent news for LIC policyholders to be excited about. A quotation for the LIC IPO will be sent to LIC policyholders, and they will have an excellent chance to purchase some LIC shares at an attractive price. According to several market analysts and businesses, the LIC initial public offering (IPO) will begin trading on May 04th. It will likely get an issue cut of 21 thousand crores, which is significant compared to the average Indian IPO.
Furthermore, since the Government is selling its 5 percent ownership in the LIC IPO, there will be a high likelihood that individual investors will be interested in this offering. The Indian Government has 100 percent ownership of the Life Insurance Corporation (LIC). There is no other angel investor in the firm, which is beneficial to both the Government and the company.
About LIC
The Life Insurance Corporation of India (LIC), which has its headquarters in the Indian city of Mumbai, is a leading insurance and investment company. The company is owned and controlled by the Indian Government.
In 1956, the Parliament of India passed the Life Insurance of India Act, thereby nationalizing the country’s insurance business and establishing the Life Insurance Corporation of India. More than 245 insurance firms and provident societies were consolidated into a single entity to form India’s state-owned Life Insurance Corporation.
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I want to purchase share today.
Ha to kharidle bhai kisne roka hai
How can I apply lic ipo as a. Employee
I can’t buy tell me how to buy.i open my demate at axis direct ring
Likely that there may not be any meaningful listing gains