LIC IPO share allotment likely today

Stock Market

Deteriorating stock market sentiment has hurt the outlook for listed companies, and LIC is no exception.

The LIC IPO allocation date is here and applicants can find out if the country's insurance company shares have been allocated on Thursday.

The subscription period for LIC's IPO opened on May 4 and closed on May 9.

DIPAM secretary Tuhin Kanta Pandey informed that the allotment of LIC IPO will take place on May 12, whereas the company is likely to be listed on Tuesday, May 17.

LIC was the largest ever IPO in the domestic primary market as the government sold 22.13 crore shares or 3.5 per cent stake in the company, valuing it at Rs 6 lakh crore, about 1.12 times the embedded value of Rs 5.4 lakh crore.