The Life Insurance coverage Company’s (LIC) long-awaited public concern provide, India’s greatest, might be within the worth band of Rs 902-949, with a Rs 60 low cost to policyholders and a Rs 45 low cost for retail buyers and workers, based on authorities sources.
The Preliminary Public Providing (IPO) would open on Could 2 for anchor buyers, and on Could 4 to Could 9 for buyers, the sources added.
On Saturday, the LIC board accredited a reduce in its IPO concern measurement to three.5 per cent from 5 per cent, sources had mentioned.
The federal government is now anticipated to promote 3.5 per cent of its stake in LIC for ₹ 21,000 crore, valuing the insurance coverage behemoth at 6 lakh crore.
The federal government sources additionally mentioned that there’s an choice to extend the stake provide from 3.5 per cent to five per cent, by which case the state’s coffer will garner Rs 30,000 crore from the sale of its fairness.
Whether or not the ultimate provide is a stake sale of three.5 per cent for Rs 21,000 crore or 5 per cent for Rs 30,000 crore, LIC’s IPO might be India’s largest ever.
Certainly, the general public concern measurement on the lowered ₹ 21,000 crore might be bigger than the quantity mobilised from the IPO of Paytm in 2021, which was the most important ever at ₹ 18,300 crore, adopted by Coal India (2010) at practically ₹ 15,500 crore and Reliance Energy (2008) at ₹ 11,700 crore.
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