LIC IPO to remain open for subscription on Saturday and Sunday

The Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) will remain open for subscription on Saturday and Sunday.

Reserve Bank of India has directed all banks to keep their window open to allow applications for LIC IPO even on Sunday.

It will remain open for investors till May 9. The indicative price range



has been set at 902 to 949 rupees per share.

The government is selling more than 22 crore 13 lakh shares of LIC targeting to raise about 21,000 crore rupees.

The allotment of shares to the demat account of bidders will happen by May 16. The IPO will list for trading on May 17.