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Category :
IPO
Headline :
LIC announces launch of initial public offering
Date:
27/04/2022 12:50
Life Insurance Corporation of India has announced public offering of 221374920 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 939.00 per share. The gross proceeds of the issue are expected to be Rs 21,00,847.99 lakhs.
The company's initial public offer (IPO) will open on 04 May 2022 and is expected to close on 09 May 2022, subject to customary closing conditions. The price band of the issue has been fixed at Rs 902.00-949.00 per share.
The IPO includes a fresh Issue of 221374920 Equity Shares of the Company at an price of Rs 949.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 15 shares with bids in multiples of 15.
Life Insurance Corporation of India anticipates using the proceeds of the issue for .
Axis Capital Ltd.,JP Morgan India Private Limited.,Kotak Mahindra Capital Company Ltd.,Citigroup Global Markets India Private Limited,Nomura Financial Advisory & Securities (I) P Ltd.,JM Financial Ltd.,Goldman Sachs (India) Securities Pvt. Ltd.,SBI Capital Markets Limited,BofA Securities India Limited,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
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