LIC IPO
LIC's Initial Public Offering to open on May 4
Kolkata: State-owned insurance major Life Insurance Corporation of India's Initial Public Offering (IPO) will open on May 4 for subscription.
It will close on May 9.
The insurance major has fixed the price band at Rs. 902 anto Rs. 949.
Investors can bid for a minimum of 15 Equity Shares and in multiples of 15 Equity Shares thereafter.
Siddhartha Mohanty, MD, LIC of India said during a press conference in Kolkata on Friday: "LIC is synonymous with life insurance with life insurance in India."
"We have continued to grow and sustain our market leadership position in the country, ," he said.
He said to provide the best possible facilities to customers, LIC is upgrading itself technologically.
Rohit Chawla, Deputy Director, Ministry of Finance, described the moment of LIC's IPO listing as 'historic'.
"LIC is an undisputed market leader," he said.
(Reporting by Supriyo Hazra)
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