LIC IPO: Date, price details, size for policyholders, investors
India Today
Top LIC officials said that the government does not have any plan to dilute its stake in the country's largest insurer further.
The government is unlikely to decrease its stake further in the Life Insurance Corporation (LIC) of India, according to an ANI report. This comes as the wait for the initial public offering (IPO) of LIC gets longer.
The government was aiming to raise around Rs 60,000 crore by selling its 5 per cent stake.
Top LIC officials said that the government does not have any plan to dilute its stake in the country's largest insurer further, as per the ANI report. LIC officials said that the insurance behemoth won't require funding support from the government for the next two years, the ANI report says.
LIC, which was to be launched in March, got delayed due to the volatile situation in the stock market after Russia invaded Ukraine.
Earlier, Reuters reported that LIC IPO may launch by mid-April. Now there are reports that the much-awaited IPO is likely to be held in early May if the stock market remains stable.
According to norms, if the IPO does not place by May 12, then the government will require to update Draft Red Herring Prospectus (DRHP).
According to the draft red herring prospectus (DRHP), LIC's embedded value, which is a measure of the consolidated shareholders value in an insurance company, has been pegged at about Rs 5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors.
