LIC IPO price, date, lot size and more: All you need to know

For more than 65 years, LIC has provided life insurance in India. For the nine months ending December 2021, the insurer had a market share of 61.6 percent in gross written premiums and 61.4 percent in new business premiums, respectively.

After subtracting fees and taxes, the proceeds from the stake sale will be paid to the government, which is the selling shareholder. The proposed listing of LIC's equity shares is expected to improve the company's visibility and brand image.

Successful bidders will receive shares on May 12, while failed bids will receive a refund on the same day. By May 16, the shares will be credited to the demat account, and the stock will begin trading in the secondary market on May 17.

Despite its smaller size, this is India's largest initial public offering (IPO). It follows Paytm's initial public offering (IPO) last year, which raised Rs 18,300 crore. LIC is valued at Rs 6.07 lakh crore in the IPO.

Investors can bid for shares in lots of 15, or multiples of 15. Employees are entitled to 15.81 lakh shares, while policyholders are entitled to 2.21 crore shares. Retailers and employees would receive a discount of Rs 45, while policyholders will receive a discount of Rs 60.

The government would sell shares in the price range of Rs 902-949. According to the state-owned insurer, the government will sell shares in the price range of Rs 902-949. The government intends to sell a 3.5 percent stake in the company, or 22.13 crore shares, in order to collect Rs 20,557.23 crore. This is far less than the original estimate of Rs 60,000 crore.