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LIC IPO: GMP, date, price, other details in 10 points:
LIC IPO price: The GoI has fixed LIC IPO price band at ₹902 to ₹949 per equity share. (Reuters)

LIC IPO date for subscription: The public issue of insurance behemoth will open for subscription on 4th May 2022 and it will remain open for bidding till 9th May 2022

LIC IPO: It’s official now. The public issuer offering (IPO) of Life Insurance Corporation (LIC) of India is going to hit primary markets next month. As per teh information available on BSE website, LIC IPO subscription will open on 4th May 2022 and it will remain open for bidding till 9th may 2022. The Government of India (GoI) has fixed LIC IPO price band at ₹902 to s 949 per equity share. 

The GoI has also announce a discount of ₹45 per equity share to retail and eligible employee category and of ₹60 per equity share to policy holder category. Meanwhile, LIC share price has started trading in the grey market as well. According to market observers, shares of LIC are trading at a premium of ₹48 in the grey market today. However, it had made its debut in the grey market on Monday at a premium of ₹25.

Here we list out important LIC IPO details in 10 points:

1] LIC IPO GMP: Shares of LIC IPO started trading in grey market on Monday at a premium of ₹25. LIC IPO GMP today is ₹48 that means grey market is expecting LIC IPO listing at around ₹997 ( ₹949 + ₹48), around 5 per cent higher from its issue price.

2] LIC IPO price: The GoI has fixed LIC IPO price band at ₹902 to ₹949 per equity share.

3] LIC IPO date for subscription: The public issue of insurance behemoth will open for subscription on 4th May 2022 and it will remain open for bidding till 9th May 2022.

4] Discount for LIC policyholders: The GoI has announced ₹60 per equity share discount to the applicants having an LIC policy. However, only those LIC policyholders will be eligible for this discount who bought their policy on or before 13th April 2022, the day LIC filed its DRHP at SEBI.

5] Discount for LIC employees: The GoI has announced ₹45 per equity share discount to LIC employees applying for the public issue.

6] LIC IPO size: The GoI aims to raise ₹21,008 from its public offer, which is 100 per cent OFS (offer for sale) in nature.

7] LIC IPO lot size: An applicant will be able to apply for the IPO in lots and one lot of the public issue comprises 15 LIC shares.

8] LIC IPO application limit: A bidder is allowed to apply for minimum one lot and maximum 14 lots of the LIC IPO.

9] LIC IPO listing: The public issue will list on both NSE and BSE and the tentative listing date of the public issue is 17th May 2022.

10. The pricing seems to be a little high. So investors may consult and then decide.

Reliance Industries shares at record high, market cap crosses ₹19 lakh crore

Singapore GRM surging to record high is the major reason for Reliance Industries share price rally and its market valuation hitting ₹19 lakh crore, RIL shares were up 1% to ₹2,802, giving it a market cap of ₹19 lakh crore.

Shares of Reliance Industries shrugged off weak broader markets and hit record high in early trade today. RIL shares were up 1% to ₹2,802, giving it a market cap of ₹19 lakh crore. 

Reliance shares today opened with downside gap of near ₹20 per share but soon started to climb. Within few minutes of opening bell it went to hit its new life-time high of ₹2,826 per share on NSE, logging around 1.25 per cent rise in early morning deals. During this course, the Sensex heavy-weight went on to become first Indian company to hit ₹19 lakh crore market capitalization as well. According to stock market experts, Singapore GRM surging to record high is the major reason for Reliance Industries share price rally and its market capital hitting ₹19 lakh crore. They said that after rise of every one US dollar in Singapore GRM, Reliance Industries earning goes up by around ₹4 and in post-Russia-Ukraine war, Singapore GRM has surged by around $7 to $8 dollar.

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