Life Insurance Corporation of India’s Initial Public Offering to open on May 4, sets price band at ₹ 902 to ₹ 949 per Equity Share
• Price Band of ₹ 902 – ₹ 949 per equity share bearing face value of ₹ 10 each (“Equity Shares”). • Discount - ₹ 45 per Equity Share to Retail and Eligible Employee Category and ₹ 60 per Equity Share to Policyholder Category • Bid/Offer Opening Date – Wednesday, 4 May, 2022 and Bid/Offer Closing Date – Monday, 9 May, 2022. • Minimum Bid Lot is 15 Equity Shares and in multiples of 15 Equity Shares thereafter. • The Floor Price is 90.2 times the face value of the Equity Share and the Cap Price is 94.9 times the face value of the Equity Share. Risks to Investors: • For Fiscal 2019, Fiscal 2020, Fiscal 2021 and the nine months ended December 31, 2021, the Life Insurance Corporation of India (“Corporation”) had a market share of 66.4%, 66.2%, 64.1% and 61.6%, respectively, in terms of total premium in the Indian life insurance sector • The entire Net Proceeds will be paid to the President of India and the Corporation will not receive any proceeds of the Offer •Our individual...