Life Insurance Corporation's (LIC) IPO price band has likely been fixed at ₹902-₹949 per share, reports said on Tuesday. There will be a ₹60 discount for policyholders, the reports added. Previous reports said the LIC IPO will likely open on May 4 and close on May 9, with the government looking to raise ₹21,000 crore by diluting a 3.5% stake.