What is an IPO?
An IPO (Initial Public Offering) is the process by which a privately held company becomes a publicly traded company by offering its shares to the public for the first time. It could be a new, young company or an old company which decides to be listed on an exchange and hence goes public.
With the help of IPO Companies raise equity capital by issuing new shares to the public or the existing shareholders can sell their shares to the public without raising any fresh capital.
LIC IPO Details, Date, Lot Size
|IPO Open Date||May 4, 2022|
|IPO Close Date||May 9, 2022|
|IPO Listing Date||May 17, 2022|
|Face Value||₹10 per equity share|
|Issue Type||Book Built Issue IPO|
|Issue Size||₹316,249,885 Crore|
|Issue Price||₹902 to ₹949 per equity share|
|Lot Size||15 Shares|
|Min. Lot||1x949x15 = ₹14,235|
|Max. Lot||949×210 = ₹199,290|
About Life Insurance Corporation of India
LIC is the largest insurance provider company in India. It has a market share of above 66.2% in new business premium. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products..
As of 30 Sep 2021, it has a total AUM of Rs. 39 lakh crore. LIC operates through 2048 branches, 113 divisional offices, and 1,554 Satellite Offices. It operates globally in Fiji, Mauritius, Bangladesh, Nepal, Singapore, Sri Lanka, UAE, Bahrain, Qatar, Kuwait, and the United Kingdom.
Key positive factors
- LIC is a part insurance and part investment products company. Their plans are a combination of insurance and investment with a guaranteed return.
- LIC has over 13.5 lakh agents who play brings most of the new business.
- LIC plans offer ‘fixed returns’ along with life insurance coverage. This makes it easy to sell by agents and brings peace of mind to the insurers.
- LIC has high trust in the public for both life insurance as well as investment done with them. LIC is synonymous with insurance in India.
- LIC manage asset of Rs 39 lakh crores. That is more money than the entire mutual fund industry combined. They invest these funds across stocks and bonds. They own 4% of all listed stocks in India and more government bonds than the RBI.
- Leading insurance provider company in India and fifth largest global insurer by GWP.
- A range of life insurance products to meet varied insurance needs of individuals.
- The President of India
- Ministry of Finance
- Government of India
If you haven’t Zerodha account, you can open your Demat Account here
Steps to apply in IPO through Zerodha
1) Visit the Zerodha website and login to Console.
2) Go to Portfolio and click the IPOs link.
3) Go to the “LIC“ row and click the ‘Bid’ button.
4) Enter your UPI ID, Quantity, and Price.
5) “Submit” IPO application form.
6) Visit the UPI App (net banking or BHIM) to approve the mandate.