May 4, 2022 - May 9, 2022

LIC IPO Basis of Allotment

LIFE INSURANCE CORPORATION OF INDIA

The Corporation was established as 'Life Insurance Corporation of India' on September 1,1956 under the Life Insurance Corporation Act, 1956. For details of change in the central office of the Corporation, see "History and Certain Corporate Matters - Changes in central office of the Corporation" on page 272 of the prospectus dated May 12, 2022 ("Prospectus).

Central office: Yogakshema. Jeevan Bima Marg, Nariman Point, Mumbai 400 021, Maharashtra, India. Contact Person: Pawan Agrawal, Company Secretary and Compliance Officer; Tel: +91 22 2202 2079; E-mail: lnvestors@licindia.com; Website: www.licindia.in; IRDAI Registration number: 512
OUR PROMOTER: THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF FINANCE, GOVERNMENT OF INDIA

The Corporation has filed the Prospectus with SEBI and the National Stock Exchange of India Limited ("NSE") and BSE Limited ("BSE" and together with NSE, the "Stock Exchanges"), and the Equity Shares are proposed to be listed on the Stock Exchanges and trading to commence on May 17, 2022.

BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 221,374,920 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") OF LIFE INSURANCE CORPORATION OF INDIA ("THE CORPORATION" OR THE "ISSUER") THROUGH AN OFFER FOR SALE OF 221,374,920 EQUITY SHARES BY THE PRESIDENT OF INDIA, ACTING THROUGH THE MINISTRY OF FINANCE, GOVERNMENT OF INDIA ("SELLING SHAREHOLDER") FOR CASH AT A PRICE OF Rs. 949 PER EQUITY SHARE ("OFFER PRICE"), AGGREGATING TO Rs. 205,572.31 MILLION (THE "OFFER").

THE OFFER INCLUDES A RESERVATION OF 1,581,249 EQUITY SHARES AGGREGATING TO Rs. 1,429.45 MILLION (CONSTITUTING 0.025% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL), FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEE(S) (THE "EMPLOYEE RESERVATION PORTION") AND A RESERVATION OF 22,137,492 EQUITY SHARES AGGREGATING TO Rs. 19,680.23 MILLION (CONSTITUTING 0.35% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL) FOR SUBSCRIPTION BY ELIGIBLE POLICYHOLDER(S) ("POLICYHOLDER RESERVATION PORTION"). THE CORPORATION AND THE SELLING SHAREHOLDER. IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGERS ("BRLMS"), OFFERED (I) A DISCOUNT OF 4.74% ON THE OFFER PRICE (EQUIVALENT OF 145 PER EQUITY SHARE) TO THE RETAIL INDIVIDUAL BIDDERS BIDDING IN THE RETAIL PORTION ("RETAIL DISCOUNT"), (II) A DISCOUNT OF 4.74% ON THE OFFER PRICE (EQUIVALENT OF t 45 PER EQUITY SHARE) TO ELIGIBLE EMPLOYEE(S) BIDDING IN THE EMPLOYEE RESERVATION PORTION ("EMPLOYEE DISCOUNT"), AND (III) A DISCOUNT OF 6.32% ON THE OFFER PRICE (EQUIVALENT OF Rs. 60 PER EQUITY SHARE) TO THE ELIGIBLE POLICYHOLDER(S) BIDDING IN THE POLICYHOLDER RESERVATION PORTION ("POLICYHOLDER DISCOUNT'). THE OFFER LESS THE EMPLOYEE RESERVATION PORTION AND POLICYHOLDER RESERVATION PORTION IS HEREINAFTER REFERRED TO AS "NET OFFER". THE OFFER AND NET OFFER SHALL CONSTITUTE 3.5% AND 3.13%, RESPECTIVELY, OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF THE CORPORATION.

ANCHOR INVESTOR OFFER PRICE AND OFFER PRICE: Rs. 949 PER EQUITY SHARE

THE ANCHOR INVESTOR OFFER PRICE AND OFFER PRICE IS 94.9 TIMES OF THE FACE VALUE OF THE EQUITY SHARES

Risks to Investors:

•	For Fiscal 2019, Fiscal 2020, Fiscal 2021 and the nine months ended December 31, 2021, the Corporation had a market share of 66.4%, 66.2%, 64.1% and 61.6%, respectively, in terms of total premium in the Indian life insurance sector.
•	The entire Net Proceeds will be paid to the President of India and the Corporation will not receive any proceeds of the Offer.
•	Our individual agents procure most of our individual new business premiums. If we are unable to retain and recruit individual agents on a timely basis and at reasonable cost, there could be a material adverse effect on our results of operations.
•	The Corporation is not a company incorporated under the Companies Act, 2013 and is established and governed as per the provisions of the Life Insurance Corporation Act, 1956 and the rules and regulations framed thereunder. Accordingly, the Corporation is not subject to the provisions of the Companies Act. 2013.
•	The Market capitalization / Embedded Value ratio based on Embedded Value as at September 30, 2021 for the Corporation at the upper end of the Price Band is 1.11, compared to the average industry peer group Market capitalization / Embedded Value of 3.41 (simple average basis). Potential investors may note that the Embedded Value of the Corporation could be sensitive to the equity markets given the size of the equity investment portfolio of the Corporation.
•	Average Cost of acquisition of Equity Shares for the Selling Shareholder is Rs. 0.16 each and Offer Price at upper end of the Price Band is Rs. 949.
•	Details of Acquisition of all Equity Shares transacted in last three years and one year:

Period	Weighted Average Cost of Acquisition (in Rs.)*	Upper end of the Price Band (Rs. 949) is 'X' times the Weighted Average Cost of Acquisition	Range of acquisition price: Lowest Price-Highest Price (in Rs.)
Last 1 year	0.16	5,931	Nil- 10.00*
Last 3 years	0.16	5,931	Nil- 10.00*

* Represents acquisition price of equity shares pursuant to bonus issue. **The paid-up equity capital of the Corporation was Rs. 1,000 million (provided held by the Gol) prior to amendment to the Life Insurance Corporation Act by the Finance Act, 2021 ("Amendment"). Pursuant to the Amendment, the Corporation was required, with the previous approval of the Gol, to issue Equity Shares to the Gol in consideration for the paid-up equity capital provided by the Gol as it stood before the coming into force of Section 131 of the Finance Act, 2021.

•	Weighted Average Return on Net Worth for Fiscals 2021, 2020 and 2019 is 182.25%.
•	The Ten Book Running Lead Managers associated with the Offer have handled 72 public issues in the past 3 years out of which 24 issues closed below the issue price on listing date.

BID/OFFER PROGRAMME
BID/OFFER OPENED ON WEDNESDAY, MAY 04, 2022
BID/OFFER CLOSED ON MONDAY, MAY 09, 2022
ANCHOR INVESTOR BID/ OFFER PERIOD OPENED ON MONDAY, MAY 2, 2022

The Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules. 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Offer was made available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"). The Corporation, in consultation with the BRLMs, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis to only to Mutual Funds, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. Further, not less than 15% of the Net Offer was made available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer was made available for allocation to RIBs in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All potential Bidders (except Anchor Investors) were required to mandatory utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of UPI Bidders Bidding using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts were blocked by the Scabs or under the UPI Mechanism, as the case may be. to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Offer through the ASBA process. For details, see "Offer Procedure" beginning on page 569 of the Prospectus.

The Offer (excluding Anchor Investor Portion) received 7,337,841 applications for 478,026,255 Equity shares resulting in 2.95 times subscription. After removal of bids not banked/ returns and before technical rejections, the Offer (excluding Anchor Investor Portion) received 6,133,051 applications for 429,118,155 Equity Shares resulting in 2.65 times subscription. The details of the applications received in the Offer from Retail Individual Bidders. Non-Institutional Bidders. QIBs (excluding Anchor Investors), Eligible Employees and Eligible Policyholders are as under (after removal of bids not banked/ returns and before technical rejections):

Category	No. of Applications Applied	No. of Equity Shares	Equity Shares Reserved as per Prospectus	No. of times Subscribed	Amount (Rs.)
Retail individual Bidders	3,511,398	119,435,670	69,179,663	1.73	108,392,764,905
Non Institutional Bidders	21,432	72,184,380	29,648,427	2.43	68,497,081,965
Eligible Policyholders	2,523,210	119,465,820	22,137,492	5.40	106,693,040,115
Eligible Employees	76,597	5,715,540	1,581,249	3.61	5,170,242,015
Qualified Institutional Bidders (excluding Anchor Investors)	414	112,316,745	39,531,236	2.84	106,588,050,585
Total	6,133,051	429,118,155	162,078,067	2.65	395,341,179,585

Final Demand

A summary of the final demand as per BS E and NSE as on the Bid/Offer Closing Date at different Bid prices is as under:

SI. No	Bid Price	No. of Equity Shares	% to Total	Cumulative Total	Cumulative % of Total
1	902	4,896,225	0.96	4,896,225	0.96
2	903	306,435	0.06	5,202,660	1.02
3	904	1,012,755	0.20	6,215,415	1.22
4	905	501,930	0.10	6,717,345	1.32
5	906	61,830	0.01	6,779,175	1.33
6	907	58,815	0.01	6,837,990	1.35
7	908	42,915	0.01	6,880,905	1.35
8	909	123,795	0.02	7,004,700	1.38
9	910	899,025	0.18	7,903,725	1.56
10	'911	67,155	0.01	7,970,880	1.57
11	912	67,905	0.01	8,038,785	1.58
12	913	22,905	0.00	8,061,690	1.59
13	914	21,465	0.00	8,083,155	1.59
14	915	329,565	0.06	8,412,720	1.66
15	916	19,950	0.00	8,432,670	1.66
16	917	22,200	0.00	8,454,870	1.66
17	918	38,160	0.01	8,493,030	1.67
18	919	31,935	0.01	8,524,965	1.68
19	920	774,435	0.15	9,299,400	1.83
20	921	57,150	0.01	9,356,550	1.84
21	922	44,565	0.01	9,401,115	1.85
22	923	31,185	0.01	9,432,300	1.86
23	924	34,665	0.01	9,466,965	1.86
24	925	769,200	015	10,236,165	2.02
25	926	769,875	0.15	11,006,040	2.17
26	927	60,780	0.01	11,066,820	2.18
27	928	32,130	0.01	11,098,950	2.19
28	929	81,615	0.02	11,180,565	2.20
29	930	2,011,395	0.40	13,191,960	2.60
30	931	34,995	0.01	13,226,955	2.60
31	932	32,505	0.01	13,259,460	2.61
32	933	45,750	0.01	13,305,210	2.62
33	934	30,060	0.01	13,335,270	2.63
34	935	307,980	0.06	13,643,250	2.69
35	936	44,925	0.01	13,688,175	2.70
36	937	29,400	0.01	13,717,575	2.70
37	938	26,760	0.01	13,744,335	2.71
38	939	83,925	0.02	13,828,260	2.72
39	940	1,878,825	0.37	15,707,085	3.09
40	941	31,290	0.01	15,738,375	3.10
41	942	60,270	0.01	15,798,645	3.11
42	943	29,580	0.01	15,828,225	3.12
43	944	25,245	0.00	15,853,470	3.12
44	945	519,075	0.10	16,372,545	3.22
45	946	58,320	0.01	16,430,865	3.24
46	947	471,435	0.09	16,902,300	3.33
47	948	695,565	0.14	17,597,865	3.47
48	949	248,281,140	48.89	265,879,005	52.36
	CUT-OFF	241,959,240	47 64	507,838,245	100.00
	TOTAL	507,838,245	100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE, on May 12, 2022.

A.	Allotment to Retail Individual Bidders (After Technical Rejections) (including ASBA Applications)
	The Basis of Allotment to the Retail Individual Bidders, who have bid at Cut-off or at the Offer Price of Rs. 904 per Equity Share (a discount of Rs. 45 per Equity Share was offered to Retail Individual Bidders Bidding in the Retail Investor Portion), was finalized in consultation with the Designated Stock Exchange, being BSE. This category has been subscribed to the extent of 1.61 times. The total number of Equity Shares Allotted in Retail Portion category is 69,179,663 Equity Shares to 3,275,563 successful applicants. The category-wise details of the Basis of Allotment are as under

Category	No. of Applications Received	% of Total	Total No. of Equity Shares applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares allotted
15	2,381,255	72.70	35,718,825	31.99	15	1:1	35,718,825
30	337,441	10.30	10,123,230	9.07	19	1:1	6,411,379
					1	1013:1252	273,025
45	124,343	3.80	5,595,435	5.01	24	1:1	2,984,232
					1	808:1307	76,870
60	79,948	2.44	4,796,880	4.30	29	1:1	2,318,492
					1	97:227	34,163
75	40,123	1.22	3,009,225	2.70	34	1:1	1,364,182
					1	74:313	9,486
DC	28,595	0.87	2,573,550	2.30	39	1:1	1,115,205
					1	141:3097	1,302
105	56,265	1.72	5,907,825	5.29	43	1:1	2,419,395
					1	341:399	48,086
120	18,815	0.57	2,257,800	2.02	48	1:1	903,120
					1	75:113	12,488
135	4,894	0.15	660,690	0.59	53	1:1	259,382
					1	148:313	2,314
150	21,565	0.66	3,234,750	2.90	58	1:1	1,250,770
					1	75:266	6,080
165	5,638	0.17	930,270	0.83	63	1:1	355,194
					1	169:1856	513
180	5,228	0.16	941,040	0.84	67	1:1	350,276
					1	541:601	4,706
195	6,359	0.19	1,240,005	1.11	72	1:1	457,848
					1	6186	4,510
210	165,094	5.04	34,669,740	31.05	77	1:1	12,712,238
					1	578:1115	85,582
TOTAL	3,275,563	100.00	111,659,265	100.00			69,179,663

Note 1 additional share has been allotted to Categories 30, 45, 60, 75, 90, 105, 120, 135, 150, 165, 180, 195, 210 in the ratio of 1013:1252, 808:1307, 97:227, 74:313, 141:3097, 341:399, 75:113, 148:313,75:266, 169:1856, 541:601, 61:86, 578:1115, respectively.

B.	Allotment to Non-Institutional Bidders (After Technical Rejections) (including ASBA Applications)
	The Basis of Allotment to the Non-Institutional Bidders, who have Bid at the Offer Price of Rs. 949 per Equity Share, was finalized in consultation with the Designated Stock Exchange, being BSE This category has been subscribed to the extent of 2.38 times. The total number of Equity Shares allotted in this category is 29,648,427 Equity Shares to 19,764 successful applicants. The category-wise details of the Basis of Allotment are as under (Sample)

Category	No. of Applications Received	% of Total	Total No. of Equity Shares applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares allotted
225	5,294	26.79	1,191,150	1.69	94	1:1	497,636
					1	253:388	3,452
240	408	2.06	97,920	0.14	101	1:1	41,208
255	241	1.22	61,455	0.09	107	1:1	25,787
270	204	1.03	55,080	0.08	114	1:1	23,256
285	57	0.29	16,245	0.02	120	1:1	6,840
300	815	4.12	244,500	0.35	126	1:1	102,690
525	1,598	8.09	838,950	1.19	221	1:1	353,158
540	435	2.20	234,900	0.33	227	1:1	98,745
555	52	0.26	28,860	0.04	234	1:1	12,168
570	20	0.10	11,400	0.02	240	1:1	4,800
585	18	0.09	10,530	0.01	246	1:1	4,428
463,635	1	0.01	463,635	0.66	195,115	1:1	195,115
526.860	2	0.01	1,053,720	1.50	221,722	1:1	443,444
526.950	1	0.01	526,950	0.75	221,760	1:1	221,760
578,505	1	0.01	578,505	0.82	243,456	1:1	243,456
579.555	1	0.01	579,555	0.82	243,898	1:1	243,898
853.530	1	0.01	853,530	1.21	359,197	1:1	359,197
1.053.735	4	0.02	4,214,940	5.98	443,451	1:1	1,773,804
2.107.470	2	0.01	4,214,940	5.98	886,901	1:1	1,773,802
3.161.220	1	0.01	3,161,220	4.49	1,330,359	1:1	1,330,359

Note 1 additional share has been allotted to category 225 in the ratio of 253:388.

C.	Allotment to Eligible Policyholders (After Technical Rejections)
	The Basis of Allotment to the Eligible Policyholders, who have Bid at the Offer Price of Rs. 889 per Equity Share (a discount of Rs. 60 per Equity Share was offered to Eligible Policyholders Bidding in the Policyholder Reservation Portion), was finalized in consultation with the Designated Stock Exchange, being BSE. This category has been subscribed to the extent of 4.37 times The total number of Equity Shares allotted in this category is 22,137,492 Equity Shares to 919,619 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category	No. of Applications Received	% of Total	Total No. of Equity Shares applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares allotted
15	1,070,461	55.05	16,056,915	16.60	'5	910:3977	3,674,070
30	288,507	14.84	8,655,210	8.95	15	1415:3092	1,980,450
45	114,805	5.90	5,166,225	5.34	15	81:118	1,182,105
60	81,759	4.20	4,905,540	5.07	15	1307:1428	1,122,465
75	40,906	2.10	3,067,950	3.17	17	1:1	695,402
					1	185:1148	6,592
90	30,491	1.57	2,744,190	2.84	20	1:1	609,820
					1	251:423	18,093
105	55,470	2.85	5,824,350	6.02	24	1:1	1,331,280
					1	21:820	1,421
120	24,900	1.28	2,988,000	3.09	27	1:1	672,300
					1	38:83	11,400
135	5,963	0.31	805,005	0.83	30	1:1	178,890
					1	170:191	5,307
150	24,523	1.26	3,678,450	3.80	34	1:1	833,782
					1	185:574	7,904
165	5,955	0.31	982,575	1.02	37	1:1	220,335
					1	83:110	4,493
180	6,459	0.33	1,162,620	1.20	41	1:1	264,819
					1	79:423	1,206
195	6,760	0.35	1,318,200	1.36	44	1:1	297,440
					1	476:769	4,184
210	187,586	9.65	39,393,060	40.72	48	1:1	9,004,128
					1	125:2441	9,606
TOTAL	1,944,545	100.00	96,748,290	100.00			22,137,492

Note: 1 additional share has been allotted to Categories 75, 90, 105, 120, 135, 150, 165, 180, 195, 210 in the ratio of 185:1148, 251:423, 21:820, 38:83, 170:191, 185:574, 83:110, 79:423, 476:769, 125:2441, respectively.

D.	Allotment to Eligible Employees (After Technical Rejections)
	The Basis of Allotment to the Eligible Employees, who have Bid at the Offer Price of Rs. 904 per Equity Share (a discount of Rs. 45 per Equity Share was offered to Eligible Employees Bidding in the Employee Reservation Portion), was finalized in consultation with the Designated Stock Exchange, being BSE. This category has been subscribed to the extent of 2.95 times. The total number of Equity Shares allotted in this category is 1,581,249 Equity Shares to 39,779 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category	No. of Applications Received	% of Total	Total No. of Equity Shares applied	% to Total	No. of Equity Shares Allotted per Bidder	Ratio	Total No. of Equity Shares allotted
15	8,285	17.46	124,275	3	15	56:165	42,180
30	6,872	14.48	206,160	4	15	188:277	69,960
45	4,272	9.00	192,240	4	15	1:1	64,080
					1	19:70	1,160
60	4,033	8.50	241,980	5	20	1:1	80,660
					1	59:163	1,460
75	2,186	4.61	163,950	4	25	1:1	54,650
					1	19:42	989
90	1,401	2.95	126,090	3	31	1:1	43,431
105	3,868	8.15	406,140	9	36	1:1	139,248
120	1,483	3.12	177,960	4	41	1:1	60,803
135	325	0.68	43,875	1	46	1:1	14,950
150	1,352	2.85	202,800	4	51	1:1	68,952
165	429	0.90	70,785	2	56	1:1	24,024
180	370	0.78	66,600	1	61	1:1	22,570
195	405	0.85	78,975	2	66	1:1	26,730
210	12,179	25.66	2,557,590	55	71	1:1	864,709
					1	47:826	693
TOTAL	47,460	100.00	4,659,420				1,581,249

NOTE: 1 additional share has been allotted to Categories 45, 60, 75, 210 in the ratio of 19:70, 59:163, 19:42 and 47:826, respectively.

E.	Allotment to QIBs (excluding Anchor Investors) (After Technical Rejections)
	Allotment to QIBs (excluding Anchor Investors), who have Bid at the Offer Price of Rs. 949 per Equity Share, has been done on a proportionate basis in consultation with the Designated Stock Exchange, being BSE. This category has been subscribed to the extent of 2.82 times of Net QIB portion. As per the SEBI Regulations. Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 1,976,562 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 37,554,674 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 39,531,236 Equity Shares, which were allotted to 197 successful Applicants.

Category	FIs/Banks	Flls/FPIs	IC	MFs	NBFC	OTHs	Total
QIB	12,287,708	8,275,233	4,530,646	4,342,312	189,278	9,905,959	39,531,236

F.	Allotment to Anchor Investors (After Technical Rejections)
	The Corporation in consultation with the BRLMs and the Selling Shareholder, have allocated 59,296,853 Equity Shares to 33 Anchor Investors (through 125 Anchor Applications) at the Anchor Investor Offer Price of Rs. 949 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60% of the QIB Portion.

Category	MFs	ICs	PF	FPI/FIIs	OTHs	Total
Anchor	42,173,610	3,161,288	1,844,025	10,537,335	1,580,595	59,296,853

The IPO Committtee of our Board of Directors of the Corporation at its meeting held on May 12, 2022. has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation has been dispatched to the address of the investors as registered with the depositories Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on May 12, 2022, and the payments to non-syndicate brokers has been issued on May 16, 2022. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on May 13, 2022 for credit into the respective beneficiary accounts, subject to validation of the account details with the depositories concerned. The Corporation has received the listing and trading approval from the Stock Exchanges, and trading to commence on May 17, 2022.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, KFin Technologies Limited at www.kfintech.com.

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of the ASBA form, number of Equity Shares bid for, name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below:


KFin Technologies Limited
Selenium, Tower B, Plot No- 31 and 32, Gachibowfi, Financial District, Nanakramguda, Serilngampally, Hyderabad 500 032 Telangana, India
Tel: +91 40 6716 2222: E-mail: lic.ipo@kfintech.com: Investor Grievance ID: eimvard.ris@kfintech.com
Website: www.kfintech.com; Contact Person: M Murti Krishna: SEBI Registration Number: INR000000221; Toll-free number: 1800 3094 001

	For LIFE INSURANCE CORPORATION OF INDIA
	On behalf of the Board of Directors
Place : Mumbai	Sd/-
Date : May 16, 2022	Company Secretary & Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF LIFE INSURANCE CORPORATION OF INDIA.

LIFE INSURANCE CORPORATION OF INDIA has filed the Prospectus with the Securities and Exchange Board of India ("SEBI") and the Stock Exchanges. The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers. Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com. Axis Capital Limited at www.axiscapital.co.in, BofA Securities India Limited at www.mi-india.com, Citigroup Global Markets India Private Limited at www.onlinecitibank.co.in/rhtm/citigroupglobalscreen1.htm, Goldman Sachs (India) Securities Private Limited at www.goldmansachs.com, ICICI Securities Limited at www.icicisecurities.com, JM Financial Limited at www.jmfl.com, J.P. Morgan India Private Limited at www.jpmipl.com, Nomura Financial Advisory and Securities (India) Private Limited at www.nomuraholdings.com/company/group/asia/india/Index.html and SBI Capital Markets Limited at www.sbicaps.com, the website of the National Stock Exchange of India Limited at www.nseindia.com and the website of the BSE Limited at www.bseindia.com Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" on page 24 of the Prospectus.

This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Corporation or the Selling Shareholder and that will contain detailed information about the Corporation and management, as well as financial statements. However, no public offering of securities in the United States is contemplated.

LIC IPO Basis of Allotment FAQs

The IPO allocation is based on the subscription level and the investor category.

Refer to IPO allotment rules and methods for more details.

See the basis of allotment document above to know how the shares are allocated in LIC IPO .

The LIC IPO basis of allotment (published above) tells you how shares are allocated to you in LIC IPO and category wise demand of IPO share.

Visit the LIC IPO allotment status page to check the number of shares allocated to your application.

In LIC IPO allotment process, the registrar separates valid and invalid applications. The invalid applications with technical errors are rejected and only valid applications at or above the cut-off price are considered for allotment.

For more information, please refer to IPO Allotment Process and Basis of Allotment.

Check the LIC IPO basis of allotment document to know how the shares are allocated in LIC IPO.

LIC IPO Basis of Allotment

LIC IPO Basis of Allotment FAQs

How shares are allotted in LIC IPO?

What is LIC IPO basis of allotment status?

What is LIC IPO allotment process?

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