LIC IPO date: Government to make big announcement soon
India Today
The government has time till May 12 to launch the LIC's IPO without filing a fresh Draft Red Herring Prospectus (DRHP).
The launch date of Life Insurance Corporation's (LIC) initial public offering (IPO) may be announced soon as the government is likely to take a call on the timeline by the end of this week, according to a Business Today report. The LIC IPO was supposed to hit the market by March 31 this year but was delayed due to a volatile situation on the stock market triggered by Russia-Ukraine.
"We will have clarity on if we are going ahead with LIC IPO within the stipulated deadline by the end of this week," a government official told Business Today TV.
"We are neither bound to do it, nor prevented from doing it. We definitely see strength and momentum. But, we will take a final call after meetings by the end of this week," the official added.
The government has time till May 12 to launch the LIC's IPO without filing a fresh Draft Red Herring Prospectus (DRHP).
Meanwhile, the share market was gyrating in high volatility as concerns over rising inflation and foreign fund outflows in the wake of the uncertain geopolitical situation have sapped investor confidence.
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