Initial Public Offering (IPO) of the insurance behemoth LIC of India is going to hit primary markets on 4th May  2022 i.e. tomorrow.

The Government of India (GoI) has fixed LIC IPO price band at  ₹902 to  ₹949 per equity share

Announcing  ₹60 discount to the policyholders and  ₹45 discount to LIC employees applying for the public issue.

The public issue will open on 4th May 2022 and it will remain open for bidding till 9th May 2022.

According to market observers, LIC IPO grey market premium (GMP) today is  ₹85, which is  ₹16 higher from its yesterday's grey market premium of  ₹69.

The GoI aims to raise  ₹21,008.48 crore from its much-awaited public offer.

An applicant will be able to apply in lots and one LIC IPO lot comprises 15 LIC shares.

One bidder can apply for minimum one lot whereas maximum lots allowed for single bidder is 14.