RBI instructs ASBA designated bank branches to remain open on this Sunday to accept LIC IPO applications, check the list of banks here
The Reserve Bank of India (RBI) on Wednesday instructed all Application Supported by Blocked Amount (ASBA)-approved bank branches to remain open on May 8, Sunday to facilitate the processing of LIC IPO applications.
This is possibly the first time a public offer has received a special dispensation. The LIC IPO began on May 4 and will run till May 9. On Thursday, the second day of the IPO, the issue was fully subscribed. According to SEBI, there are about 60 branches that are providing ASBA services currently.
List of banks which will remain open on Sunday, March 8.
Ahmedabad Mercantile Co-Op Bank, AU Small Finance Bank, Axis Bank, Bandhan Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Barclays Plc, BNP Paribas, Canara Bank, Central Bank of India, CITI Bank, City Union Bank, Credit Suisse
DBS Bank, Deutsche Bank, Deutsche Bank AG, Dhanlaxmi Bank, Equitas Small Finance Bank, Federal Bank, GP Parsik Sahakari Bank, HDFC Bank, HSBC, ICICI Bank, and IDBI Bank.
Read Also: Airtel introduces two new subscriptions for Disney+ Hotstar, here’s all you need to know
IDFC First Bank, Indian Bank, Indian Overseas Bank, Indusind Bank, J. P. Morgan Chase, Bank, N.A., Jammu & Kashmir Bank, Janata Sahakari Bank, Karnataka Bank, Karur Vasya Bank, Kotak Mahindra Bank, Mehsana Urban Co-operative Bank
Nutan Nagarik Sahakari Bank, Punjab National Bank, Rajkot Nagarik Sahakari Bank, RBL Bank, South Indian Bank, Standard Chartered Bank, Syndicate Bank, and SVC Co-operative Bank.
Tamilnad Mercantile Bank, Kalupur Commercial Co-operative Bank, Saraswat Co-operative Bank, Surat Peoples Co-op Bank, TJSB Sahakari Bank, UCO Bank, Union Bank of India, and Yes Bank.
LIC IPO
LIC has fixed the price band at Rs 902-949 per equity share for the issue. On May 17, LIC is likely to be listed in the market. On the stock markets, LIC will directly compete with private enterprises such as SBI Life Insurance, HDFC Life Insurance, and ICICI Prudential Life Insurance.
