LIC IPO date, price, size details, PAN link: All you need to know
India Today
LIC's IPO, which is touted to be the country's biggest ever initial share sale, is likely to be delayed because of market volatility due to the ongoing Russia-Ukraine war.
Policyholders and investors are eagerly waiting for clarity on the launch date of Life Insurance Corporation's (LIC) mega initial public offering (IPO). The much-awaited share sale was earlier expected to hit the markets by March 31. However, given the market volatility due to the ongoing Russia-Ukraine war, it has forced the government to rethink the launch date. The government is yet to announce a decision in this regard.
LIC's IPO, which is touted to be the country's biggest ever initial share sale, is likely to be delayed till mid-April, according to a Reuters report. "Most likely, LIC would now be listed by mid-April," Reuters reported quoting a senior government official.
According to the draft papers or Draft Red Herring Prospectus (DRHP) of LIC's IPO, the government has time till May 12 this year to launch the initial share sale.
If the government postpones the launch date of LIC's IPO beyond May 12, then fresh draft papers will have to be submitted.
The draft papers were filed with the Securities and Exchange Board of India (Sebi) on February 13. The DRHP has been cleared by Sebi.
Employees and policyholders of the national insurer would get a discount over the floor price.
According to the DRHP, policyholders must link PAN details with their LIC policies to become eligible to participate in the upcoming LIC's IPO and get a discount over the floor price.
