iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

LIC tumbles as anchor investors lock-in end nears

10 Jun 2022 , 12:25 PM

Anchor investors are marquee institutional investors who are allotted shares in a company ahead of its initial public offer (IPO). The end of lock-in period will allow anchor investors to sell their existing shares in the market. Ahead of the IPO, LIC on 2 May 2022 raised Rs 5,627.27 crore from anchor investors by allotting about 5.93 crore shares to 123 investors at Rs 949 per share. The IPO of insurance major was subscribed 2.95 times. The issue opened on 4 May 2022 and it closed on 9 May 2022. The IPO price band was Rs 902 to Rs 949 per equity share. Shares of LIC debuted on the bourses on 17 May 2022. The scrip was listed at Rs 867.20, representing an 8.62% discount to the issue price of Rs 949. The stock is currently down 24.88% compared with its issue price. LIC recorded 18% YoY decline in standalone net profit to Rs 2,372 crore in Q4 FY22, as against the net profit of Rs 2,893 crore in the same period last year. Net premium income increased 18% to Rs 1,43,746 crore in the fourth quarter from Rs 121,626 crore in the same period last year. Income from investments remained flat at Rs 67,498 crore. LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country. The market share of LIC in individual policies was 74.60% for the financial year ended 31 March 2022. In the Group business, the market share of LIC during year ended 31 March 2022 was 89.07% by number of policies / schemes and 76.16% by first year premium. The market share of LIC as at the end of 31 March 2022 was 63.25% in composite first year premium income. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.