Life Insurance Corporation of India – LIC IPO Details

LIC IPO Date is officially announced now and the subscription is to open on 04 May and will close on 09 May 2022, Check the LIC IPO Subscription Status & Allotment Status.

About LIC

The corporation has been providing life insurance in India for more than 65 years and is the largest life insurer in India, with a 64.1% market share in terms of premiums (or GWP), a 66.2% market share in terms of New Business Premium (or NBP), a 74.6% market share in terms of number of individual policies issued, a 81.1% market share in terms of number of group policies issued for Fiscal 2021, as well as by the number of individual agents, which comprised 55% of all individual agents in India as at March 31, 2021.

The Corporation had the highest gap in market share by life insurance GWP relative to the second-largest life insurer in India as compared to the market leaders in the top seven markets globally

The Corporation is the largest asset manager in India. The Corporation was formed by merging and nationalizing 245 private life insurance companies in India on September 1, 1956, with an initial capital of ₹50.00 million. From the Corporation’s incorporation until 2000, The Corporation is the only life insurer in India. The Corporation was identified by IRDAI as a Domestic Systemically Important Insurer (“D-SII”) on the basis of size, market importance and domestic and global inter-connectedness in September 2020

Important Details – LIC

DateDetails
September 1, 1956The Corporation was established as “Life Insurance Corporation of India” under the Life Insurance Corporation Act.

Objects of the Issue

  • To achieve the benefits of listing the Equity Shares on the Stock Exchanges; and
  • To carry out the Offer for Sale of up to 316,249,885 Equity Shares by the Selling Shareholder

LIC Limited Financials:

Summary of financial Information (Restated Consolidated Statement)

Particulars For the year ended (₹ in millions)
  30-Sep-21 31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 4,04,34,596.70 3,74,64,044.68 3,41,41,745.74 3,36,63,346.17
Total income 15,197.24 29,855.71 27,309.56 6,256.86
Profit After Tax 15,040.13 29,741.39 27,104.78 26,273.78

Also Read: LIC IPO: How to check/update PAN Card with LIC Policy to participate in IPO?

LIC IPO Price – Details

DescriptionLIC IPO Details
Public IssueInitial Public Issue of upto 316,249,885 Equity Shares aggregating up to ₹ [.] million
Issue Open  Date04-May-22
Issue Close Date09-May-22
Issue TypeBook Built
IPO Price Band₹ 902 – ₹ 949
Face Value ₹ 10
Market Lot 15 Equity Shares and in multiples thereof
Minimum Order Quantity 15 Equity Shares
Maximum Subscription Amount for Retail InvestorRs. 2,00,000
Listing NSE, BSE
NSE SymbolLICI
IPO Market Timings 10.00 a.m. to 5.00 p.m.

LIC IPO DRHP & RHP

LIC IPO Lot Size

ApplicationLotsNo of SharesAmount (Rs)
Minimum115₹ 14,235
Maximum14210₹ 1,99,290

LIC IPO Lead Managers

  • Axis Capital Limited
  • BofA Securities India Limited
  • Citigroup Global Markets India Private Limited
  • Goldman Sachs (India) Securities Private Limited
  • ICICI Securities Limited
  • J.P. Morgan India Private Limited
  • JM Financial Consultants Private Limited
  • Kotak Mahindra Capital Company Limited
  • Nomura Financial Advisory And Securities (India) Pvt Ltd
  • SBI Capital Markets Limited

LIC IPO Registrar

LIC IPO Allotment Date, Listing Date and other Important Dates

DetailsImportant Dates
Bid / Offer Opens on04-May-22
Bid / Offer Closes on09-May-22
Finalisation of Basis of Allotment12-May-22
Initiation of refunds 13-May-22
Credit of the Equity Shares16-May-22
Listing Date17-May-22

Company Peers – Comparison of Accounting Ratios

Name of CompanyFace Value EPS (Basic)
(₹)
Net Profit
(₹ in
million)
NAV, as on March 31, 2021
(₹ per share)
Life Insurance Corporation of India104.70*29,741.3910.30
SBI Life Insurance Company Limited1014.5614,558.49103.99
HDFC Life Insurance Company Limited106.7413,608.7242.75
ICICI Prudential Life Insurance Company Limited106.669,561.5563.51

LIC Central office

Yogakshema, Jeevan Bima Marg,
Nariman Point, Mumbai 400 021,
Maharashtra, India

Company Promoters

  • The President of India, acting through the Ministry of Finance, Government of India

LIC IPO – FAQS

When will LIC IPO be launched?

The LIC IPO opens on May 04, 2022 and closes on May 09, 2022

What is the LIC IPO Price?

The LIC IPO price band is ₹ 902 – ₹ 949 per share

What is the lot size of LIC IPO?

The LIC IPO lot size is 15 Equity Shares and the minimum order quantity is 15 Equity Shares

Who is the Registrar for LIC IPO?

The Registrar for LIC IPO is KFin Technologies Private Limited

How to apply in LIC IPO through UPI?

Check the step by step process here – Click here

How to apply in LIC IPO through Zerodha?

Check the step by step process here – Click here

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