{"id":40044,"date":"2022-05-04T19:08:44","date_gmt":"2022-05-04T13:38:44","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-lic-ipo-rbi-corrected\/"},"modified":"2022-05-04T19:08:44","modified_gmt":"2022-05-04T13:38:44","slug":"biz-lic-ipo-rbi-corrected","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-lic-ipo-rbi-corrected\/","title":{"rendered":"ASBA-designated bank branches to remain open on Sunday for LIC IPO: Reserve Bank"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-381671428\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>       Mumbai, May 4 (PTI) Reserve Bank of India (RBI) has said that all ASBA-designated bank branches will remain open for public on Sunday to facilitate processing of applications for LIC&#8217;s initial public offering.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2202854029\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> State-owned LIC&#8217;s Initial Public Offering (IPO), the country&#8217;s biggest ever offer, opened for subscription by retail and institutional investors on Wednesday.<\/p>\n<p> The offer will close on May 9 and there wil be bidding on May 7 (Saturday) also.<\/p>\n<p> The Government of India, in order to facilitate bidding for LIC IPO, has requested that all bank branches designated to process ASBA (Application Supported by Blocked Amount) applications may be kept open for public on May 8, 2022 (Sunday), RBI said in a statement on Wednesday.<\/p><div class=\"trade-content_5\" id=\"trade-3733118672\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;The matter has been examined and it has been decided that banks may keep all their ASBA designated branches open on May 8, 2022 (Sunday) for the above purpose,&#8221; it said.<\/p>\n<p> Generally, ASBA is the mechanism through which investors apply for shares in a public issue.<\/p>\n<p> On Wednesday, the first day of the IPO, the quotas reserved for employees and policyholders were oversubscribed while the overall subscription stood at 0.66 per cent.<\/p>\n<p> The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.<\/p>\n<p> LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, and policyholders will get a discount of Rs 60 per equity share.<\/p>\n<p> The share sale is through the Offer For Sale (OFS) of up to 22.13 crore equity shares and the listing is likely on May 17. PTI NKD  RAM RAM<\/p><div class=\"trade-content-10\" id=\"trade-864742314\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-2956370409\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, May 4 (PTI) Reserve Bank of India (RBI) has said that all ASBA-designated bank branches will remain open for public on Sunday to facilitate processing of applications for LIC&#8217;s initial public offering. State-owned LIC&#8217;s Initial Public Offering (IPO), the country&#8217;s biggest ever offer, opened for subscription by retail and institutional investors on Wednesday. The [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-40044","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ASBA-designated bank branches to remain open on Sunday for LIC IPO: Reserve Bank - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-lic-ipo-rbi-corrected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASBA-designated bank branches to remain open on Sunday for LIC IPO: Reserve Bank\" \/>\n<meta property=\"og:description\" content=\"Mumbai, May 4 (PTI) Reserve Bank of India (RBI) has said that all ASBA-designated bank branches will remain open for public on Sunday to facilitate processing of applications for LIC&#8217;s initial public offering. 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