LIC IPO Launch Date; Everything You Need To Know

The Life Insurance Corporation's (LIC) issue offer, India's biggest, will open on May 2 for policyholders and employees, and on May 4 to May 9 for the general public, according to government sources..The issue is likely to open for subscription on May 4 and is expected to close on May 9. Anchor investors can subscribe to the shares of the insurance company on May 2..The insurance behemoth's long-awaited initial public offering (IPO) will be in the price band of ₹ 902-949, with the government likely to give a Rs 60 discount to policyholders and a Rs 45 discount for retail investors and employees, the sources added..On Saturday, the LIC board approved a cut in its IPO issue size to 3.5 per cent from 5 per cent, sources had said..The government is now expected to sell 3.5 per cent of its stake in LIC for ₹ 21,000 crore..Previously, the government was expecting to garner over ₹ 60,000 crore by selling about 31.6 crore or 5 per cent stake in the life insurance firm to meet the curtailed disinvestment target of ₹ 78,000 crore in 2021-22. .And according to the draft prospectus filed and approved by the capital markets regulator Securities and Exchange Board of India, SEBI, for the 5 per cent stake sale, the employee reservation portion was not expected to exceed 5 per cent of the post-offer equity Share capital, and the policyholder reservation portion was not to exceed 10 per cent of the offer size..The stake sale was initially planned to be launched in March 2022, but the Russia-Ukraine crisis derailed those plans as stock markets were highly volatile.

LIC IPO Launch Date; Everything You Need To Know

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