LIC IPO: Evaluation at Rs 20,560, shares issued at Rs 945

The biggest ever initial public offering (IPO) of LIC raised by India at an evaluation of Rs 20,560 crore ($2.7 billion). It was valued at top of the range inducing a major demand from the local investors as well as a last minute funneling of funds from international entities.

The share of Life Insurance Corporation of India is evaluating at Rs 949 each aid the firm in a prospectus that rolled out. The individual share price that offered initially lied in between Rs 902 and Rs 949. The trading on the stock market will be live on 17 May.

In reference, the rolling out of the LIC’s IPO can be align to the Aramco movement which involved Saudi Arabian Oil Co’s $29.4 billion listing in 2019. The LIC IPO ended up resembling the Aramco IPO not just in scale but also on being reliant majorly on domestic investors. However, Aramco IPO lacked foreign investments which cited depreciating currencies and the uncertain aspects of the global market. 

The opening of LIC’s IPO bagged the record of being the biggest in India and the fourth largest in the world, in accordance to the data compiled by Bloomberg.

The launch of LIC’s IPO comes at a time when the market is really moving at a really low pace following the crisis between Ukraine and Russia that kindled the volatility of the market. 

Retail investors and LIC policyholders are among the most significant chunk that offered the shares at a discounted rates. The reserved shares were completely take up before the offering was close. 

In conclusion LIC offer subscribed overly by three times.