All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Life Insurance Corporation of India will open for subscription on May 04, 2022 and closes on May 09, 2022. It is expected to list on the stock exchanges on May 17, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
The Company is the largest insurance provider company in India with 61.6% market share in terms of Gross Written Premiums (GWP), 71.8% market share in terms of number of individual policies issued as well as by the number of individual agents, which comprised 55% of all individual agents in India as at 31-DEC-2021. It is also the largest asset manager in India with AUM of ₹40.1 trillion as at December 31, 2021. It is also ranked 5th globally by life insurance GWP and 10th globally in terms of total assets. The Company was formed by merging and nationalizing 245 private life insurance companies in India on September 1, 1956.
The Company has a broad, diversified product portfolio covering various segments across individual products and group products. It’s products comprise of Participating insurance products and Non-Participating products which includes; Term insurance, Health insurance, annuity and pension products, ULIPS, among others.
The Company has the largest individual agent network among life insurance entities in India, comprising approximately 13.3 lakh individual agents as at December 31, 2021. It has 2,048 branch offices and 1,559 satellite offices in India, covering 91% of all districts in India.
The President of India, acting through the Ministry of Finance, the Government of India
Given below are the objectives of the Company –
To achieve the benefits of listing the equity shares on the stock exchanges
The Offer is a 100% Offer for Sale issue. The Company will not receive any proceeds from the Offer for Sale and all proceeds from the Offer will go to the Selling Shareholders.
|IPO Size||₹ 21,008.48 Crore *|
|Offer Mix||100% Offer For Sale|
|Price Band||₹ 902 - ₹ 949|
|Lot Size||15 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,235 (1 lot) | Max. ₹ 1,99,290 (14 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||KFin Technologies Limited|
₹ 45 per equity share for Eligible Employees & Retail Category
₹ 60 per equity share for Eligible Policy Holders Category#
|Cut-off time for UPI Mandate Confirmation||10-May-2022 (up to 12:00 PM)|
₹ 9,378.78 Crore
(50% of Net Issue Size)
₹ 2,813.64 Crore
(15% of Net Issue Size)
₹ 6,565.15 Crore
(35% of Net Issue Size)
|Policyholders Reservation Portion||
₹ 2,100.85 Crore
(2,21,37,492 Equity Shares)
|Employee Reservation Portion||
₹ 150.06 Crore
(15,81,249 Equity Shares)
|IPO Opens||May 04, 2022|
|IPO Closes||May 09, 2022|
|Finalization of the basis of allotment||May 12, 2022|
|Unblocking of funds / Initiation of refunds||May 13, 2022|
|Credit of equity shares to Demat accounts||May 16, 2022|
|Listing of equity shares||May 17, 2022|
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