The IPO price of the country’s largest life insurance company has been fixed at Rs 902 to Rs 949 per share. Investors can invest in at least 15 shares or multiples thereof. LIC has given a discount of Rs 45 per share to retail investors and eligible employee category. Policy holders will get a discount of Rs 60 per share. LIC IPO will be listed on the stock exchanges on 17th May.
This is the biggest IPO of the country till date. The government is disinvesting its 3.5 percent stake in LIC. The total value of the IPO is Rs 21 thousand crores.
Let us tell you that the anchor investor i.e. the earliest investor of any IPO. Anchor investors invest in it before the initial public offering opens to the general public. These are also called institutional investors. These include mutual funds, pension and insurance companies. When big anchor investors invest in a company’s IPO, it affects the perception of the general public and its demand may increase.