The public authority is probably going to declare the day for the kickoff of Life Insurance Corporation of India’s (LIC) Initial Public Offering (IPO) soon. The excellent beginning offer deal should have hit the market in March yet the interaction was deferred after the offer market slipped into instability following Russia’s intrusion of Ukraine. The public authority might accept an approach to the timetable of LIC’s IPO before the current week’s over.
LIC IPO DATE
The public has the opportunity and energy till May 12 to send off the LIC’s IPO without recording a new Draft Red Herring Prospectus (DRHP). “We will have clearness on assuming we are proceeding with the LIC IPO inside the specified cutoff time before the current week’s over,” an administration official told Business Today TV recently. “We neither will undoubtedly make it happen nor kept from getting it done. We certainly see strength and energy. Be that as it may, we will accept a last assemble after conferences before the current week’s over,” the authority said.
LIC IPO SIZE
The public authority was supposed to collect over Rs 60,000 crore by selling around 31.6 crores or a 5% stake in LIC. Notwithstanding, as indicated by a Bloomberg report on Friday, the public authority might cut the LIC IPO size by 40%. The public authority was hoping to raise Rs 30,000 crore through the LIC’s IPO, the Bloomberg report said. Regardless of Rs 60,000 crore or Rs 30,000 crore, the LIC IPO would be the greatest ever throughout the entire existence of the Indian securities exchange.
Up to this point, the sum prepared from the IPO of Paytm in 2024 was the biggest ever at Rs 18,300 crore, trailed by Coal India (2010) at almost Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.