The allotment of Life Insurance Corporation of India (LIC) IPO shares will be finalized on Thursday, May 12, after the public offering of Rs 21,000-cr received 2.95 times the subscription. LIC shares were offered to investors through the IPO at a fixed price range of Rs 902-949 per share. On Wednesday in the gray market, shares of LIC were trading at a discount of 20 rupees, at 929 rupees each to the upper end of the price range, according to people who trade unlisted shares of companies. The stock is likely to be listed on the BSE and ESN on May 17, 2022.
The initiation of repayments or the release of funds from the ASBA account will take place on May 13, and the shares will be credited to the beneficiaries’ deposit accounts on May 16. IPO investors can check IPO award status through the BSE and Registrar websites. The show’s registrar is KFin Technologies, a SEBI-registered entity responsible for allocating the IPO and processing refunds. With its IPO, LIC has become the largest ever on Dalal Street, taking over from Paytm’s public offering that occurred last year. In 2021, Paytm had raised Rs 18,300 crore through IPO, other significant issues on Dalal Street include Coal India at nearly Rs 15,500 crore in 2020 and Reliance Power at Rs 11,700 crore which came in 2008.
Check the allocation status of LIC shares via the KFin Technologies Registrar website
To check the share allotment status, select the company name as “LIC – IPO” from the drop-down list on the Link Intime India website when declared. Check the PAN, Application Number or Custodian/Client ID box. Accordingly, enter the Permanent Account Number or Application Number or Custodian/Client Number in the box. Enter the given captcha in the space provided and click on the submit button. This will display the number of shares that have been applied and assigned to the investor.
Check the stock allotment status in the LIC through the ESB website
Another way to check the status of the award in the LIC is to visit the ESB website. Select “equity” as the issue type and “LIC” as the issue name from the drop-down list, when reported. Enter the application number and the PAN (permanent account number). Click on “I am not a robot”. In the last step, click on the search tab to view the status details.