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Life Insurance Corporation of India (LIC IPO) IPO Detail

Life Insurance Corporation of India (LIC IPO) IPO Detail

LIC is India's only government-owned insurance provider company. It is the largest company in the Indian insurance space with a market share of above 64.1% in terms of premiums and 66.2% market share in terms of New Business Premium. The company offers participating insurance products and non-participating products i.e. unit linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products.

As of 30 Sep, 2021, it has a total AUM of Rs. 39,558,929.24 million. The company has 8 Zonal offices in Delhi, Mumbai, Kolkata, Chennai, Kanpur, Patna, Bhopal, and Hyderabad. As of 30 Sep 2021, the firm operates through 2048 branches, 113 divisional offices, and 1,554 Satelite offices.. It operates globally in Fiji, Mauritius, Bangaldesh, Nepal, Singapore, Sri Lanka, UAE, Bahrain, Qatar, Kuwait, and the United Kingdom. As of March 31, 2021, it has the largest agent network of 1.35 million life insurance agents.

Competitive strengths

  • Leading insurance provider company in India and fifth largest global insurer by GWP.
  • A range of life insurance products to meet varied insurance needs of individuals.
  • Strong omni-channel distribution network; 1.34 million agents, 3463 active Micro insurance agents, 174 alternate channel, etc.
  • Largest asset manager in India with established financial performance track record.
  • Highly experienced and qualified management team.

Company Promoters

The President of India, acting through the Ministry of Finance, Government of India

IPO Details

IPO Opening DateMay 04, 2022
IPO Closing DateMay 09, 2022
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹902 - 949 per equity share
Market Lot15 Shares
Min Order Quantity15 Shares
Listing AtBSE, NSE
Issue Size₹21,008.48 Cr
Fresh Issue-
Offer for Sale221,374,920 Eq Shares of ₹10
Employee Discount₹45 per share
Retail Discount₹45 per share
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.33x 0.26x 0.6x 1.17x 0.87x 0.55x
Day 2 0.4x 0.47x 0.94x 2.22x 3.11x 1.03x
Day 3 0.56x 0.75x 1.23x 3.05x 4.01x 1.38x
Day 4 0.67x 1.04x 1.39x 3.46x 4.45x 1.59x
Day 5 0.67x 1.24x 1.59x 3.79x 5.04x 1.79x
Day 6 2.84x 2.91x 1.99x 4.4x 6.12x 2.96x

IPO Tentative Timetable

The Life Insurance Corporation of India (LIC IPO) IPO open date is May 04, 2022, and the close date is May 09, 2022. The issue may list on May 17, 2022.

IPO Open DateMay 04, 2022
IPO Close DateMay 09, 2022
Basis of Allotment DateMay 12, 2022
Initiation of RefundsMay 13, 2022
Credit of Shares to Demat AccountMay 16, 2022
IPO Listing DateMay 17, 2022

IPO Lot Size

The Life Insurance Corporation of India (LIC IPO) IPO market lot size is 15 shares. A retail-individual investor can apply for up to 14 lots (210 shares or ₹199290).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding96.50%

Company Financials:

For the year/period ended (₹ in Cr)

Financial Year Total Assets Total Revenue Profit After Tax
30-Sep-21 4,043,459.67 1,519.73 1,504.01
31-Mar-21 3,746,404.47 2,985.57 2,974.14
31-Mar-20 3,414,174.57 2,730.96 2,710.48
31-Mar-19 3,366,334.62 2,645.00 2,627.38

Objects of the Issue:

The IPO aims to utilize the net proceeds towards the following purposes;

  1. To achieve the benefits of listing the equity shares on the stock exchange.
  2. To carry out an offer for sale of 316,249,885 shares by selling shareholders.

Life Insurance Corporation of India (LIC IPO) IPO Registrar:

KFin Technologies Limited

Life Insurance Corporation of India (LIC IPO) IPO Lead Manager(s):

Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, J.P. Morgan India Private Limited, JM Financial Consultants Private Limited, Kotak Mahindra Capital Company Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, SBI Capital Markets Limited

Company Contact Information:

Life Insurance Corporation of India (LIC IPO)

Yogakshema, Jeevan Bima Marg

Nariman Point

Mumbai 400 021