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 IndiaIPO Details
| IPO Opening Date | May 04, 2022 |
| IPO Closing Date | May 09, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹902 - 949 per equity share |
| Market Lot | 15 Shares |
| Min Order Quantity | 15 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹21,008.48 Cr |
| Fresh Issue | - |
| Offer for Sale | 221,374,920 Eq Shares of ₹10 |
| Employee Discount | ₹45 per share |
| Retail Discount | ₹45 per share |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.33x | - | - | 0.26x | 0.6x | 0.55x |
| Day 2 | 0.4x | - | - | 0.47x | 0.94x | 1.03x |
| Day 3 | 0.56x | - | - | 0.75x | 1.23x | 1.38x |
| Day 4 | 0.67x | - | - | 1.04x | 1.39x | 1.59x |
| Day 5 | 0.67x | - | - | 1.24x | 1.59x | 1.79x |
| Day 6 | 2.84x | - | - | 2.91x | 1.99x | 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 Date | May 04, 2022 |
| IPO Close Date | May 09, 2022 |
| Basis of Allotment Date | May 12, 2022 |
| Initiation of Refunds | May 13, 2022 |
| Credit of Shares to Demat Account | May 16, 2022 |
| IPO Listing Date | May 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 15 | ₹14235 |
| Maximum | 14 | 210 | ₹199290 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 96.50% |
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;
- To achieve the benefits of listing the equity shares on the stock exchange.
- 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
