LIC IPO Date: If the government is not able to bring the IPO by May 12, then it will have to file new papers with SEBI stating the results of the December quarter.
LIC IPO Date: The government can take a decision in this week on the date of bringing the IPO of Life Insurance Corporation of India (LIC). A senior official gave information about this. The sale of 5 percent stake or 316 crore shares in LIC was earlier to be done in March. But it was postponed after the market collapsed due to the Ukraine crisis.
Time till May 12 to bring IPO
The government has time till May 12 to bring the IPO of Life Insurance Corporation (LIC) without filing new documents with SEBI. An official said, “A decision on when to bring the IPO can be taken this week.”
Documents to be submitted again with SEBI
The underlying value of LIC has been worked out by Milliman Advisors, an international valuation company. The underlying value of the company as on September 30, 2021 was Rs 5.4 lakh crore. The underlying value is arrived at on the basis of the integrated value of the shareholders in the insurance company. If the government is not able to bring the IPO by May 12, then it will have to file fresh papers with SEBI stating the results of the December quarter.
the biggest IPO will be
Significantly, LIC’s IPO will be the largest IPO in the country. Through this IPO of LIC, the government aims to raise more than Rs 60,000 crore in the current financial year to meet its revised disinvestment target of Rs 78,000 crore.
