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What is the maximum bid amount under the Retail category for LIC IPO?

LIC IPO issue have not less than 35% of the issue size reserved for retail institutional bidders (RIBs). Retail investors can bid upto a maximum bid amount of Rs. 200,000 and entitled to apply at cut-off price. The company offers retail investors a discount of Rs. 45 per share. The maximum amount to bid under the retail category is 14 lots * 15 shares in one lot * 949 equals to the maximum bid amount for retail investors to Rs. 199,290 with net bid value of Rs. 189840, net of employees discount. Retail investors can place a bid for atleast 1 IPO lot.

If the issue is oversubscribed, then allotment to each RIB will not be less than the minimum bid lot, subject to shares offered in the retail portion, and remaining shares if any will be allotted on a proportionate basis.

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