LIC IPO News: Market regulator SEBI has passed LIC’s DRHP in less than 22 days. SEBI DRHP takes at least 21 days to pass.
The government will reduce the share by 5 percent
The government will reduce its 5 per cent stake in LIC’s IPO through OFS (Offer for Sale). An IPO of more than 316 million shares or 5 per cent stake in OFS is expected by March. Reservations are available for policyholders of this IPO up to 10% of the issue size. The face value per share is Rs.
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It will be the biggest IPO
This public issue of LIC will be the largest IPO in the history of Indian stock market. After that, LIC’s market value will be equal to that of top companies like Reliance and TCS. Through the IPO of Life Insurance Corporation (LIC), the government aims to raise more than Rs 60,000 crore in the current financial year to meet its revised investment target of Rs 78,000 crore.