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| Your are on : Markets | IPO | IPO Synopsis | As on: Apr 26,2024 04:00 PM |
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| Life Insurance Corporation of India |
Registered Office:
Yogakshema,Jeevan Bima Road Nariman Point,
Mumbai
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400021,
Maharashtra, India.
Phone :
91-22-66598732 Fax:
Email : investors@licindia.com
Website : www.licindia.in
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Initial public offer of 221,374,920 equity shares of face value of Rs. 10 each ("Equity Shares") of Life Insurance Corporation of India ("The Corporation" or the "Issuer") through an offer for sale of 221,374,920 equity shares by the president of india, acting through the ministry of finance, government of india ("Selling Shareholder") for cash at a price of Rs. 949 per equity share ('Offer Price"), aggregating to Rs. 20557.23* crores (the "Offer").
The offer includes a reservation of 1,581,249 equity shares aggregating to Rs. 142.95 crores (constituting 0.025% of the post-offer paid-up equity share capital) for subscription by eligible employee(s) (the "Employee Reservation Portion") and a reservation of 22,137,492 equity shares aggregating to Rs. 1968.02 crores (constituting 0.35% of the post-offer paid-up equity share capital) for subscription by eligible policyholder(s) ("Policyholder Reservation Portion"). The corporation and the selling shareholder, in consultation with the book running lead managers ("brlms"), offered (i) a discount of 4.74% on the offer price (equivalent of Rs. 45 per equity share) to the retail individual bidders bidding in the retail portion ("Retail Discount"), (ii) a discount of 4.74% on the offer price (equivalent of Rs. 45 per equity share) to eligible employee(s) bidding in the employee reservation portion ("Employee Discount"), and (iii) a discount of 6.32% on the offer price (equivalent of Rs. 60 per equity share) to the eligible policyholder(s) bidding in the policyholder reservation portion ("Policyholder Discount"). The offer less the employee reservation portion and policyholder reservation portion is hereinafter referred to as "Net Offer". The offer and net offer shall constitute 3.5% and 3.13%, respectively, of the post-offer paid-up equity share capital of the corporation.
The face value of equity shares is Rs. 10 each. The offer price is 94.9 times the face value of the equity shares.
*Subject to finalisation of basis of allotment.
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Issue
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Money Payable On
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Opens On
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Closes On
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Application
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Allotment
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04-May-22
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09-May-22
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949.00-0.00
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0.00-0.00
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Minimum Application for shares in Nos :
15
Further Multiples of :
15
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(Rs)
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Lead Managers to the Issue
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Project Cost
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0.00
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Axis Capital Ltd
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Project Financed through Current Offer
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20557.23
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Post Issue Equity Share Capital
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6325.00
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Issue Price
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949.00
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Projects
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To achive the benefits of Listing the Equity Shares on the Stock Exchanges
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Promoted By
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The President of India
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Registrar to the Issue
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No Data Available
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