Govt to sell 35 stake in LIC IPO to fetch Rs 21000 cr
New Delhi Apr 23 PTI The government is likely to sell a 35 per cent stake in Life Insurance Corporation LIC through an initial public offering which will hit the markets in the first week of the next month an official said The issue size is expected to be worth Rs 21000 crore valuing the countrys largest insurer at Rs 6 lakh crore LIC is likely to file the red herring prospectus with market regulator Sebi by Wednesday LIC IPO is likely to come to the market in May first week 35 per cent stake dilution subject to regulatory approval an official said In February LIC had filed draft papers with Sebi wherein it had said that the government will sell 5 per cent stake or 316 crore shares in the state-run insurer However the IPO plans faced headwinds due to the ongoing volatility in stock markets due to Russia-Ukraine war forcing the government to cut the issue size to 35 per cent Reservations for policyholders and employees and discounts issue dates and issue price will be known by Wednesday the official added PTI JD ANZ MR MR
New Delhi Apr 23 PTI The government is likely to sell a 35 per cent stake in Life Insurance Corporation LIC through an initial public offering which will hit the markets in the first week of the next month an official said The issue size is expected to be worth Rs 21000 crore valuing the countrys largest insurer at Rs 6 lakh crore LIC is likely to file the red herring prospectus with market regulator Sebi by Wednesday LIC IPO is likely to come to the market in May first week 35 per cent stake dilution subject to regulatory approval an official said In February LIC had filed draft papers with Sebi wherein it had said that the government will sell 5 per cent stake or 316 crore shares in the state-run insurer However the IPO plans faced headwinds due to the ongoing volatility in stock markets due to Russia-Ukraine war forcing the government to cut the issue size to 35 per cent Reservations for policyholders and employees and discounts issue dates and issue price will be known by Wednesday the official added PTI JD ANZ MR MR
