LIC fixes worth band at Rs 902-949 a share for Rs 21,000 cr IPO

Insurance big LIC has mounted the value band at Rs 902-949 per share for the Rs 21,000 crore public provide that’s prone to open on May 4, sources stated.

According to sources, Life Insurance Corporation (LIC) would provide a Rs 60 low cost for policyholders and Rs 40 for retail traders and workers.

The problem is prone to open for subscription on May 4 and is anticipated to shut on May 9.

The authorities had in February deliberate to promote 5 per cent stake or 31.6 crore shares of the insurance coverage behemoth and had filed draft papers with Sebi.

However, the IPO plans confronted headwinds as a result of ongoing market volatility amid the Russia-Ukraine battle.

Last week, the federal government determined to decrease the problem measurement to three.5 per cent.