Life Insurance Corporation of India (“LIC” or the “Corporation”) has fixed the price band at ₹ 902 to ₹ 949 per Equity Share for its maiden public offer. The initial public offering (“IPO”) of the Corporation will open on Wednesday, 4 May 2022 for subscription and close on Monday, 9 May, 2022. Investors can bid for a minimum of 15 Equity Shares and in multiples of 15 Equity
According to regulatory data, while the state-run insurance giant saw a bare 0.24% growth in new business premium to ₹1.56 trillion in the 11 months of FY22, private life insurers clocked a 24.7% rise to ₹98,213 crore in the same period
Life Insurance Corporation (LIC) agents are the most prolific when it comes to premium and number of policies sold, according to the Draft Red Herring Prospectus (DRHP) filed by the largest insurer on Sunday evening.