Finance
The Life Insurance Corporation of India (LIC) is expected to complete the share allotment for its massive initial public offering (IPO) by Thursday. On May 9, India’s largest-ever IPO was oversubscribed 2.95 times after six days of bidding.
The government expects to raise up to 21,000 crore, or one-third of its original target, by selling a 3.5% stake in the country’s largest insurer.
Investors bid for 47.84 crore shares, out of a total of 16.20 crore on offer. Retail individual investors (RIIs) nearly doubled their bids, offering 6.92 crore shares at a 45 per share discount.
The price range for the issue has been set at 902 to 949 per share, and LIC is likely to be listed on May 17.
LIC shares were trading at a premium of less than 40 in the grey market, down from nearly 100 earlier.
On the BSE website, you can check your allotment status as follows:
* Visit the BSE’s official website.
* In the menu there, choose LIC IPO.
* Enter the LIC IPO application number that was assigned to you.
* After that, type in your Permanent Account Number (PAN card number).
* Then, confirm on the captcha by clicking ‘I am not a robot’.
* After that click the submit button.
* Once you do that, you will be able to monitor the status of your allotment.
Here’s how you can check your allotment status on the NSE website:
* Visit the official website of NSE.
* Select the ‘equity’ option on the following page.
* Then, from the dropdown option, select ‘LIC IPO’ as the issue name.
* Enter the number of your application.
* After that, enter your Permanent Account Number (PAN).
* Then choose ‘I am not a robot’ and click ‘submit’.
* The status of your allotment will be displayed.
Source:NDTV
