LIC IPO Update: Issue to remain open on Saturday for retail investors

LIC IPO, India's largest ever IPO is easing the process for retail investors further as the exchanges informed that the issue will remain open for retail investors even on Saturday. The IPO looking to raise Rs 21,000 cr opened today for retail investors and will shut on May 9.

LIC IPO's price band for the govt's stake sale has been been fixed at Rs 902-949 per equity share of face value Rs 10 each.

However, LIC is offering a discount of Rs 60 to its eligible policyholders and a discount of Rs 45 will be offered to retail investors and employees.

LIC IPO can be subscribed to in lots of 15 shares, so investors can apply for a minimum of one lot and the maximum you can bid for as an individual bidder is 14 lots which is a maximum of 210 shares.

Life Insurance Corporation(LIC) informed it has garnered a little over Rs 5,627 crore from anchor investors ahead of the LIC IPO opening for retail investors and the fund raising was led primarily by domestic institutions.