The over Rs 21,000 crore LIC IPO will be accessible for membership till Monday, May 9, 2022, and the value band of the organization has been fixed at Rs 902-949 per share.
LIC is the country’s oldest and most significant life insurance firm. It had been formed by merging and nationalising 245 private life insurance coverage companies on September 1, 1956, with an initial capital of Rs 5 crore. LIC now manages around Rs 40 lakh crore assets and may be the fifth-largest life insurer globally and the major asset manager in the country.
As of December 31, 2021, it covered 91 per cent of all districts and had 1.33 million individual agents, and had a market share of 61.6 % in conditions of premiums or GWP, 61.4 per cent regarding HOME BASED BUSINESS Premium, 71.8 per cent regarding number of individual policies issued, and 88.8 % in conditions of number of group policies.