LIC IPO: Check confirmed details of share price band, discount for retail investors, employees and policyholders; launch, open, closing date of issue

LIC IPO: In a major development, LIC IPO share price band and discount for retail investors and policyholders have been confirmed. The size of LIC IPO will be Rs 21,257 crores.

Here are details:-

LIC IPO: Price band

Rs 902-949

LIC IPO: Discount for retail investors

Rs 45 per share discount

LIC IPO: Discount for employees

Rs 45 per share discount

LIC IPO: Discount for policyholders 

Rs 60 per share discount

The issue is likely to open for subscription on May 4 and is expected to close on May 9.

The government had in February planned to sell s 5 per cent stake or 31.6 crore shares of the insurance behemoth and had filed draft papers with Sebi. 

Last week, the government decided to lower the issue size to 3.5 per cent.