The much-awaited initial public offering (IPO) of Life
Insurance Corporation of India (LIC) has closed, and the company is likely to
finalise the IPO share allotment on May 12, as announced by DIPAM Secretary
Tuhin Kanta Pandey.

Investors can check their share allotment status either
on the BSE website or the website of the IPO registrar by following three
simple steps.

Also Read | LIC IPO: Insurance behemoth raises over Rs 5,000 crore via anchor investors

In the case of the BSE website,

1) Visit
https://www.bseindia.com/investors/appli_check.aspx

2) Select issue type ‘Equity’ and issue name ‘Life
Insurance Corporation of India Ltd’

3) Enter the Application number or PAN Number

4) Click on ‘I am not a Robot’ and hit submit

You can also check the allotment status on the website of
KFin Technologies Private Limited, the registrar of the issue.

1) Go to the online portal of KFin Technologies
https://kcas.kfintech.com/ipostatus

2) Click on the ‘LIC IPO’ tab, given separately

3) Select and enter accordingly either one of the three
modes: Application number, Client ID and PAN ID.

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security reasons, fill the captcha accurately

7) Select submit

The LIC will credit refunds in the bank accounts of
unsuccessful investors by May 13 and equity shares will be credited to the
Demat accounts of eligible investors by May 16.

Also Read | LIC IPO: List of India’s top 10 IPOs so far

Finally, LIC will make its debut on the BSE and NSE on
May 17.

Presently, LIC shares are being traded at a discount in
the grey market (unlisted market), which may be impacted by nervousness in the
equity market. The benchmark indices and broader markets declined in double
digits in more than one month as investors could be looking more worried about
earnings and economic growth amid rising inflation.

Also Read | Mukesh Ambani plans mega IPOs of Reliance Retail, Jio

Before the start of the public issue, it was trading at a
premium of Rs 95 in the grey market premium, indicating around a 10% upside,
according to IPO Watch.

The country’s largest life insurance firm has garnered Rs
21,000 crore through its IPO that was subscribed 2.95 times from May 4 to May
9, supported by all investors.

Also Read | LIC IPO: This is LIC 3.0 says chairman MR Kumar

Policyholders will receive shares at a discount of Rs 60
per share to the final offer price of Rs 949 and they have subscribed shares
6.12 times the allotted quota.

The retail investors and employees will receive a
discount of Rs 45 per share to the final IPO price. Their reserved portion was
subscribed 1.99 times and 4.4 times respectively.

The portion reserved for qualified institutional
investors (QII) was booked 2.83 times and non-institutional investors have
bought shares 2.91 times the allotted quota.