LIC IPO Date, Price Analysis, GMP & Allotment Details 2022

About LIC IPO

LIC IPO Date: The Life Insurance Corporation of India (LIC) has submitted Draft Red Herring Prospectus paving way for the most-awaited public issue of the year. Life insurance policyholders who have one or more than one policy on the DRHP submission date i.e. 13th February 2022 shall be eligible for claiming the quota benefit.

Where 10 percent of the total LIC India share offer have been kept reserved for the LIC policyholders. However, the market is buzzed about the discount that LIC of India may announce for the policyholders.

LIC IPO Date & LIC IPO Share Price Details

IPO Open Date11th March 2022 (Expected)
IPO Close DateComing Soon
IPO Issue Size316,249,885 Eq Shares of ₹10 (aggregating up to ₹ Cr)
Offer for Sale316,249,885 Eq Shares of ₹10 (aggregating up to ₹ Cr)
Fresh Issue
Issue TypeBook Build Issue
Face Value₹10/ Equity Share
IPO Share Price Band₹ / Equity Share
Market Lot
Minimum Qty
Listing ExchangeNSE & BSE
Pre Issue Share Holding100%
Post Issue Share Holding

LIC IPO Market Lot Details

LIC IPO market lot details that you know the maximum lot size and minimum lot size and amount as well.

Min Lot SizeN/A
Min ShareN/A
Min AmountN/A
Max Lot SizeN/A
Max ShareN/A
Max AmountN/A

LIC IPO Share Offers

LIC IPO Share offers, and amount details.

CategoryShare OffersAmount
Fresh Issue
Offer for Sale316,249,885 Equity Shares of ₹1031,62,498,850
Total

LIC Financial Reports (in Millions)

Particular30-Sep-202131-Mar-202131-Mar-202031-Mar-2019
Assets₹40,434,596.7₹37,464,044.68₹34,141,745.74₹33,663,346.17
Revenue₹15,197.24₹29,855.71₹27,309.56₹26,449.96
Expenses₹2.48₹52.24₹124.4₹26.31
Profit After Tax₹15,040.14₹29,741.39₹27,104.78₹26,273.78

Read This: LIC IPO for Policyholders,10% Reserved and How to Link PAN in LIC & Its Last Date

LIC IPO Reservation

CategoryReservationSharesAmount
QIB50%₹-
NII15%₹-
RII35%₹-
EMP₹-
Total100%₹-

LIC IPO Allotment & Listing Dates

IPO Listing Date, Allotment Date, Refund Date, and Share Credit Date.

Open Date11th March 2022 (Expected)
Close DateComing Soon
Allotment DateComing Soon
Refund DateComing Soon
Share Credit DateComing Soon
Listing DateComing Soon

Read This: 30 Percent tax on Digital Assets, NFT, and Cryptocurrencies: Budget 2022

Company’s Key Factors

  • LIC is a part insurance and part investment products company.
  • LIC has over 13.5 lakh agents who play brings most of the new business. LIC plans offer ‘fixed returns’ along with life insurance coverage. This makes it easy to sell by agents and brings peace of mind to the insurers.
  • LIC has high trust in the public for both life insurance as well as investment done with them.
  • LIC is synonymous with insurance in India.
  • LIC manage asset of Rs 39 lakh crores. That is more money than the entire mutual fund industry combined. They invest these funds across stocks and bonds. They own 4% of all listed stocks in India and more government bonds than the RBI.
  • Leading insurance provider company in India and fifth largest global insurer by GWP.

LIC Promoters

The government of India is a company’s promoter and is managed by Finance Ministry.

  • Chairman- M R Kumar
  • Director- Pankaj Jain (Government Nominee)

LIC IPO Lead Manager

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

LIC IPO Registrar

KFintech Private Limited

Address: Selenium, Tower – B, Financial District, Nanakramguda, Plot No 31 & 32, Rd Number 1, Gachibowli, Hyderabad, Telangana 500032

Phone: 04067162222, 04079611000 Email: [email protected]

IPO DHRP

About LIC [Source]

The Life insurance corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India.

Over 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India.[2][3] As of 2019, the Life Insurance Corporation of India had a total life fund of ₹28.3 trillion.

The total value of sold policies in the year 2018–19 is ₹21.4 million. Life Insurance Corporation of India settled 26 million claims in 2018–19. It has 290 million policyholders.

The first two decades of the twentieth century saw a lot of growth in the insurance business. From 44 companies with total business-in-force as Rs.22.44 crore, it rose to 176 companies with total business-in-force as Rs.298 crore in 1938.

During the mushrooming of insurance companies many financially unsound concerns were also floated which failed miserably. The Insurance Act 1938 was the first legislation governing not only life insurance but also non-life insurance to provide strict state control over the insurance business.

The demand for nationalization of the life insurance industry was made repeatedly in the past but it gathered momentum in 1944 when a bill to amend the Life Insurance Act 1938 was introduced in the Legislative Assembly.

However, it was much later on the 19th of January, 1956, that life insurance in India was nationalized. About 154 Indian insurance companies, 16 non-Indian companies and 75 provident were operating in India at the time of nationalization.

Nationalization was accomplished in two stages; initially, the management of the companies were taken over by means of an Ordinance, and later, the ownership too by means of a comprehensive bill.

The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading life insurance much more widely and in particular to the rural areas with a view to reaching all insurable persons in the country, providing them adequate financial cover at a reasonable cost.

LIC had 5 zonal offices, 33 divisional offices, and 212 branch offices, apart from its corporate office in the year 1956. Since life insurance contracts are long-term contracts and during the currency of the policy, it requires a variety of services need was felt in the later years to expand the operations and place a branch office at each district headquarter.

Re-organization of LIC took place and large numbers of new branch offices were opened. As a result of re-organization servicing functions were transferred to the branches, and branches were made accounting units. It worked wonders with the performance of the corporation.

It may be seen that from about 200.00 crores of New Business in 1957 the corporation crossed 1000.00 crores only in the year 1969-70, and it took another 10 years for LIC to cross 2000.00 crore mark of new business. But with re-organization happening in the early eighties, by 1985-86 LIC had already crossed 7000.00 crore Sum Assured on new policies.

Today LIC functions with 2048 fully computerized branch offices, 113 divisional offices, 8 zonal offices, 1381 satellite offices, and the Corporate office. LIC’s Wide Area Network covers 113divisional offices and connects all the branches through a Metro Area Network.

LIC has tied up with some Banks and Service providers to offer online premium collection facilities in selected cities. LIC’s ECS and ATM premium payment facility is an addition to customer convenience.

Apart from online Kiosks and IVRS, Info Centres have been commissioned at Mumbai, Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, New Delhi, Pune, and many other cities. With a vision of providing easy access to its policyholders, LIC has launched its SATELLITE SAMPARK offices.

The satellite offices are smaller, leaner, and closer to the customer. The digitalized records of the satellite offices will facilitate anywhere servicing and many other conveniences in the future.

LIC continues to be the dominant life insurer even in the liberalized scenario of Indian insurance and is moving fast on a new growth trajectory surpassing its own past records.

LIC has issued over one crore policies during the current year. It has crossed the milestone of issuing 1,01,32,955 new policies by 15th Oct 2005, posting a healthy growth rate of 16.67% over the corresponding period of the previous year.

From then to now, LIC has crossed many milestones and has set unprecedented performance records in various aspects of the life insurance business.

The same motives which inspired our forefathers to bring insurance into existence in this country inspire us at LIC to take this message of protection to light the lamps of security in as many homes as possible and to help the people in providing security to their families.

» Some of the important milestones in the life insurance business in India are:

1818: Oriental Life Insurance Company, the first life insurance company on Indian soil started functioning.

1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its business.

1912: The Indian Life Assurance Companies Act was enacted as the first statute to regulate the life insurance business.

1928: The Indian Insurance Companies Act was enacted to enable the government to collect statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended by the Insurance Act with the objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies are taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crores from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.

» Some of the important milestones in the general insurance business in India are:

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act was amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalisation) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973.

107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd., and the United India Insurance Company Ltd. GIC incorporated as a company.

Company’s Address

Life Insurance Corporation Of India
Central Office
‘Yogakshema’, Jeevan Bima Marg
Nariman Point, Mumbai 400021

For any query or complaint mail at in[email protected]

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Frequently Asked Questions

When will the LIC IPO issue launch for a subscription?

The date of launch of the IPO issue for LIC is not available as of now.

Who will be the Book Running Lead Managers for the IPO?

The names of lead managers will be disclosed after the issue of DRHP

Is the draft prospectus for LIC public issue available?

No, it has not been submitted yet by the company.

For how many shares, LIC will launch the IPO?

The IPO is likely to be launched for not more than 10% stakes of the government in the company.