LIC IPO: This IPO of LIC will open for common investors on May 4.
New Delhi:
Life Insurance Corporation of India ie LIC IPO Price Band 902 to 949 will be between Rs. Government sources gave this information on Tuesday. It is being said to be the country’s largest public issue offer. Sources have informed that its price band will be between Rs 902 to 949. In this, LIC policyholders will get a discount of Rs 60. While retail investors and company employees will get a discount of Rs 45. Government sources have told this. This IPO will be opened for anchor investors on May 2 and will be open for investors from May 4 to 9. Sources have told this. Sources say that the LIC board had on Saturday approved to reduce the size of the IPO from 5 per cent to 3.5 per cent.
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LIC to hold press conference tomorrow amid speculations about IPO launch next week
The government is expected to get around Rs 21 thousand crore from the sale of this stake, although it will depend on the approval of the market regulator ie Securities and Exchange Board of India (SEBI). Although government sources say that the option of increasing this stake to 5 percent is open, if this happens then the government can get about 30 thousand crore rupees.
The size of LIC’s IPO may have been reduced, but even with the figure of Rs 21 thousand crore, it will be the largest IPO in the country. This will be bigger than Paytm’s 2021 IPO in 2021, which was worth Rs 18,300 crore. Earlier, Coal India’s IPO in 2010 was worth Rs 15,500 crore, while Reliance Power’s IPO in 2008 was Rs 11,700 crore.
LIC has called a press conference on 27 April 2022 at 12.30 pm, in which all the information about the IPO can be placed in front of the media. Sources have told that LIC can launch its IPO on the stock exchange next week on May 4, 2022 and the situation will be clear on April 27.
