LIC IPO opens Wednesday: Here’s everything you need to know

Life Insurance Corporation of India (LIC) will open for subscription on Wednesday, May 4, 2022.

The over Rs 21,000 crore LIC IPO will be available for subscription till Monday, May 9, 2022, and the price band of the company has been fixed at Rs 902-949 per share.

LIC is the country’s oldest and largest life insurance firm. It was formed by merging

Nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore.

LIC now manages around Rs 40 lakh crore assets and is the fifth-largest life insurer globally and the largest 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

market share of 61.6 per cent in terms of premiums or GWP, 61.4 per cent in terms of New Business Premium, 71.8 per cent in terms of number of individual policies issued