ANI
13 May 2022, 22:37 GMT+10
New Delhi [India], May 13 (ANI): Life Insurance Corporation (LIC) of India shares have been allotted to the eligible bidders of the initial public offering (IPO) at Rs 949 apiece, the upper end of the IPO price band.
Through this IPO, the government has raised Rs 20,557 crore by diluting 3.5 per cent of its stake in the country's largest insurer.
Policyholders, retail investors and employees have been offered discounts. Policyholders have been given a discount of Rs 60 per share. So the policyholders have been allocated the shares at Rs 889 apiece. Retail investors and employees have got the shares at Rs 904 apiece.
The shares have been issued to the eligible subscribers. Unsuccessful bidders will get the refunds. The shares will be credited to the investors' demat accounts on Monday.
LIC is scheduled to make its stock market debut on May 17.
The initial public offering of LIC was subscribed 2.95 times. The IPO opened for public subscription on May 4 and closed on May 9. (ANI)
Get a daily dose of Shanghai Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Shanghai Sun.
More InformationFormer U.S. President George W. Bush has made an embarrassing mistake in criticizing Russian President Vladimir Putin over his decision ...
WASHINGTON D.C.: The U.S. State Department has announced the launch of a new program to capture and analyze evidence of ...
JAKARTA, Indonesia: A new poll released this week indicated that Indonesian President Joko Widodo's approval rating has hit a six-year ...
EAST JAVA, Indonesia: A tourist bus crashed into a billboard on a highway on Indonesia's main island of Java this ...
BELGRADE, Serbia: Belgrade was paralyzed this week by a series of bomb threats, including against schools, bridges, restaurants and a ...
WASHINGTON D.C.: In a tweet this week, Amazon founder Jeff Bezos criticized President Joe Biden for the second time in ...
SYDNEY, NSW, Australia - A reduction of the official lending criteria in China has boosted stocks on the mainland, and ...
SEOUL, South Korea: Korean tech giant Samsung Electronics fell two places in Forbes' rankings of the World's Largest Tech Companies ...
SYDNEY, NSW, Australia - Stocks in Asia mostly sank on Thursday, following on from a rout on Wall Street overnight."There ...
BEIJING, China: The Commercial Aircraft Corp of China (Comac) completed a three-hour pre-delivery test flight of China's C919 aircraft at ...
NEW DELHI, India: Tesla made known this week that it will not sell electric automobiles in India due to the ...
SYDNEY, NSW, Australia - A potential easing of the Chinese government's crackdown on technology companies drove stocks in Hong Kong ...