LIC IPO: Here's how to check the share allotment status
- LIC is likely to finalise the IPO share allotment on May 12
- Investors can check their allotment status on BSE website or IPO registrar's website
- LIC IPO was subscribed 2.95 times from May 4 to May 9
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.
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.
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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.
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.