LIC IPO subscription opening soon: GMP, date, online application and more, click here
The LIC IPO subscription will open on May 4 and already the gray market premium (GMP) is up to Rs. 70 today. Investors wishing to apply for the LIC IPO can do so before it even opens through Paytm Money’s pre-open IPO application feature. Check the steps here.
The most anticipated initial public offering, which will also be the largest public offering ever in the country, is now less than a week away. Life Insurance Corporation of India (LIC), the country’s largest life insurer, will open for public underwriting on Wednesday, May 4 and close on May 9. The government is seeking to sell its 3.5% stake in the insurer by selling 22.13 million shares by offer of sale (OFS) with this IPO. The LIC IPO price range has been set at Rs. 902-949 per share. According to a report by livemint.com, according to market watchers, LIC IPO GMP is Rs. 70 in the gray market on Friday, April 29, higher than the Rs. 50 seen yesterday.
Persons wishing to bid on LIC’s IPO should be aware that on the initial sale of the shares, retail investors and eligible employees will receive a rebate of Rs. 45 per share and policyholders will receive a reduction of Rs. 60 per share. Investors will be able to bid for a minimum of 15 Capital Shares and in multiples of 15 Capital Shares thereafter. After subscription, the allocation of shares will take place by May 16. While the company’s shares are expected to list on the BSE and NSE on May 17, 2022.
In a recent development, One97 Communications Limited (OCL), owner of Paytm, announced that its wholly owned subsidiary Paytm Money Limited (PML) has launched the pre-open IPO feature for LIC’s upcoming IPO. . The company also offers free dematerialization accounts for new investors. Therefore, investors who are eagerly waiting to subscribe for the IPO can apply through Paytm Money. They can even do it now – even before the IPO opens, using Paytm Money’s pre-open IPO application feature.
How to Apply Through the Pre-Open IPO Feature
Paytm Money has activated the pre-opening feature for the LIC IPO. With this, users can subscribe to this IPO right away. The pre-opening request will be registered on the Paytm Money system and sent to the exchange for processing each time the IPO opens. Check the steps below to apply for the LIC IPO.
1. Go to “Invest in IPO” option on Paytm Money, you will be able to see the IPO with a pre-opened tab.
2. Select IPO LIC.
3. In the respective IPO screen, you will be able to see the “Apply Now” button with the disclaimer that an application submitted at the pre-opening stage cannot be canceled or modified until it is submitted in exchange at the opening of the IPO, select apply now.
4. The IPO Application page will open. Here you can change the lot size, add up to 3 bids and change the price. Publish this UPI ID can be filled in and the apply button should be selected.
5. After pressing “Apply”, you will get a screen indicating that the IPO is currently pre-opened and the application will be sent to the exchange after the IPO start date.
How to apply for the IPO of the LIC at the opening of subscription
1. Go to the IPO section on the Paytm Money home screen.
2. LIC IPO option will be available in “Current and Upcoming” tab of IPOs.
3. Once you click on the option, you will see the “Apply Now” button which will take you to the offer page. On this page, you can update your app’s price and quantity.
4. In the ‘Add UPI Details’ section, update your UPI ID and click ‘Apply’.