The LIC IPO is open for subscription between May 4 and May 9, 2021. The price band has been kept between Rs 902-949 per share with a minimum lot size of 15 shares.
There is a discount of Rs 60 for policyholders and a discount of Rs 40 for retail investors. Investors can submit bids both as policyholders and retail investors.
The LIC IPO allotment status will be finalized around May 12 (tentative).
Here’s how you can check the allotment status:
Once the allotment status is finalized, you can check your status on Groww, if you had applied for this IPO on our platform. Here are the steps:-
Step 1: Open the Groww App, and scroll down the homepage to see the ‘IPOs’ section.
Step 3: If you have received the allotment in the IPO, ‘Allotted’ will be written next to your application number. Or else, the status will show as ‘Rejected’. It will show as ‘Approved’ till the allotment is finalized.
The registrar for this IPO is KFin Technologies Private Limited.
Step 1: Investors are required to follow this link to check their IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx.
Step 2: You will then have to select the ‘Equity’ option and then from the dropdown, select issue name– ‘LIC’’
Step 3: You will have to enter your application number and PAN card number next.
Step 4: After completing all the above-mentioned steps click on the “Search” button.
After applying for an IPO, the amount gets blocked for use from your account. Therefore, the money is still showing in your balance but is blocked for use.
If LIC IPO is oversubscribed, the shares will be distributed proportionately among investors so that each investor gets a minimum of one lot. This is done on a lottery basis, so there cannot be a guarantee that you will get the shares. It is possible that few investors do not get any shares at all, in case of oversubscription.
If you don’t get the allotment in LIC IPO, the amount will be unblocked, and you will be able to use the amount in your bank account.
LIC IPO shares will get listed on BSE and NSE on May 17, 2021. (tentative)