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LIC IPO listing tomorrow 17 May will check first time share offering price of Rs 902 achieve GMP – Business News India

LIC stock list update: Life Insurance Corporation (LIC IPO), the country’s largest insurance company, is preparing to enter Dalal Street on Tuesday. The government has received a good response from local investors for the initial public offering of Rs 20,557 crore. The government has set the price range for LIC shares at Rs 949 per share. LIC policyholders and retail investors will get shares worth Rs 889 and Rs 904 per share respectively.

What happens in gray market prices
LIC shares are now trading at a slight discount on the gray market. LIC shares were trading at a discount of Rs 15-20 against its issue price of Rs 949 in the over-the-counter market.

The shares will be listed on both BSE-NSE
LIC shares will be listed on both BSE and NSE on Tuesday, May 17th. Let’s know that LIC’s initial public offering closed on May 9 and its shares were allotted to bidders on May 12. The government has offered more than Rs 22.13 crore share or 3.5 per cent in LIC through its IPO. For this, the price range has been maintained at Rs 902-949 per share.

Read also- Now this is the case of the IPOs that have delivered amazing results this year on the day of the listing, will LIC get rich?

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I got 3 times more subscriptions
LIC’s initial public offering (IPO) nearly tripled. Domestic investors participated in this, while the response of foreign investors was “lukewarm.” This is the largest initial public offering in the country’s history. The government has decided to sell its 3.5 per cent stake in LIC through this issuance. The government was expected to get about Rs 20,557 crore from the sale of this stake.

Also Read- What Suddenly Happened That There Was A Rush To Buy Paytm Shares, There Was A Massive Rise In The Company’s Stock Today

The biggest IPO ever
With that amount, the LIC issuance proved to be the country’s largest initial public offering to date. Prior to that, Paytm’s IPO, which came in 2021, was worth Rs 18,300 crore. Prior to that, in 2010, the initial public offering of Coal India was around Rs 15,500 crore.

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