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 Rio De Janeiro 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 Rio De Janeiro Sun.
More InformationBOGOTA, COLOMBIA - Four children from an Indigenous community in Colombia were found alive in the country's south Friday more ...
New Delhi [India], June 10 (ANI): India with 89.5 million digital transactions in the year 2022 has topped the list ...
Cochabamba [Bolivia], June 10 (ANI): Discussions are underway for the opening of Chinese banks in Bolivia but there are serious ...
Rio De Janeiro [Brazil], June 10 (ANI/WAM): Friday marked the start of the Abu Dhabi Grand Slam Jiu-Jitsu World Tour ...
united nations - Editor's note: Here is a fast take on what the international community has been up to this ...
The Russian Foreign Ministry spokeswoman says Ukraine's objections to an international probe fit a pattern of stonewallingRussian Foreign Ministry spokeswoman ...
NEW YORK CITY, New York: In his second Twitter Spaces event for a 2024 White House candidate, Elon Musk hosted ...
WASHINGTON D.C.: Amtrak CEO Stephen Gardner said this week that despite projected losses of $800 million for the current budget ...
WASHINGTON D.C.: The Biden administration has announced that it is providing grants worth $570 million to eliminate many dangerous railroad ...
PARIS, France: According to a report by BFM TV, Britain's King Charles is considering a visit to France in September, ...
WASHINGTON D.C.: The Federal Aviation Administration has said that a drone sighting disrupted some flights at Pittsburgh International Airport this ...
PORTLAND, Oregon: A federal trial has begun in Portland, Oregon examining the constitutionality of a stringent gun control law approved ...