LIC IPO GMP Today, IPO Gray Market Premium Today.
LIC IPO is biggest ipo in india 21,000 cr. LIC is big insurance company in india his market share is upto 65% in Indian market, LIC is life insurance company owned my government of india.
Premium Today
LIC IPO GMP today is ₹36,
What is Life Insurance Corporation of India IPO GMP Today?
Life Insurance Corporation Of India IPO GMP is ₹36 as of today.
What is LIC IPO Kostak Rate Today?
LIC IPO Kostak Rate is ₹800 as of today.
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LIC IPO is a main-board IPO of 221,374,920 equity shares of the face value of ₹10 aggregating up to ₹21,008.48 Crores. The issue is priced at ₹902 to ₹949 per share. The minimum order quantity is 15 Shares. The IPO opens on May 4, 2022, and closes on May 9, 2022.
LIC IPO Price: ₹902 to ₹949 per share
LIC IPO Date: May 4, 2022 to May 9, 2022
LIC IPO Face Value: ₹10 per share
About LIC as per https://en.wikipedia.org/wiki/Life_Insurance_Corporation
Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment corporation headquartered in the city of Mumbai, India. It is under the ownership of Government of India.
The Life insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act that nationalized the insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state-owned Life Insurance Corporation of India.
LIC reported 290 million policy holders as of 2019, a total life fund of ₹28.3 trillion and a total value of sold policies in the year 2018–19 of ₹21.4 million. The company also reported to have settled 26 million claims in 2018–19.
Founding organisations
The Oriental Life Insurance Company, the first company in India offering life insurance coverage, was established in kolkata in 1818. Its primary target market was the Europeans based in India, and it charged Indians heftier premiums. Surendranath Tagore had founded Hindustan Insurance Society, which later became Life Insurance Corporation.
The Bombay Mutual Life Assurance Society, formed in 1870, was the first native insurance provider. Other insurance companies established in the pre-independence era included
- Postal Life Insurance (PLI) was introduced on 1 February 1884
- Bharat Insurance Company (1896)
- United India (1906)
- National Indian (1906)
- National Insurance (1906)
- Co-operative Assurance (1906)
- Hindustan Co-operatives (1907)
- The New India Assurance Co Ltd (1919)
- Indian Mercantile
- General Assurance
- Swadeshi Life (later Bombay Life)
- Sahyadri Insurance (Merged into LIC, 1986)
The first 150 years were marked mostly by turbulent economic conditions including India’s First War of Independence, World War I and World War II. The aggregate effect of these events led to a high rate of and liquidation of life insurance companies in India and adversely affected the faith of the general public in the value of obtaining life cover.
Nationalization in 1956
In 1955, parliamentarian Feroze Gandhi raised the matter of insurance fraud by owners of private insurance agencies. In the ensuing investigations, one of India’s wealthiest businessmen, Sachin Devkekar, owner of the Times of India newspaper, was sent to prison for two years