The initial public offering of Indian Life Insurance (LIC) is likely to take place from 10 to 14 March and shares can be worth around RS 65,400 Crore on RS 2,000-2,100 respectively, through market rumors.
This happened after the government, which submitted the CIC draft paper on Sunday for the largest IPO in the country, denied rumors about the date of issue, said every decision about the assessment would be taken after the roadshow with investors and listings would be made in March.
However, speculation is rampant on the main aspects of public problems that tend to order 3.16 crore shares for 283 million LIC policy holders.
The government-managed insurance giant, armed with the largest network in this country of 1.35 million registered agents, will try to seduce policy holders with an IPO with a 10 percent discount reported. To be sure, many policy holders will be the first investor in equity.
Issue Opens: March 10
Issue Closes: March 14
Issue Price: Rs 2,000-2,100 per share
Issue Size: 31,62,49,885 shares
Offer-for-Sale: 31,62,49,885 shares which is equal to Rs 65,416.29 crore
Discount: 10 percent for employees and policyholders
Price Band Announcement: March 7
Anchor Investors Allotment: March 9
Market Lot: Seven shares
Employees: 1.58 crore shares (10 percent discount = Rs 1,890)
Policyholders: 3.16 crore shares (10 percent discount = Rs 1,890)
Anchor: 8.06 crore shares = Rs 16,935.18 crore
Qualified Institutional Bidder: 5.37 crore shares = 11,290.12 crore
Non-Institutional Investors: 4.03 crore shares = 8,467.59 crore
Retail Individual Investor: 9.41 crore shares = 19,757.71 crore