LIC IPO: From D-street debut date to swift regulatory review, all you need to know
India Today
The draft papers for LIC's initial public offering (IPO) is being finalised and will be filed with market regulator Sebi soon for its approval.
The government is gearing up to introduce the initial public offering (IPO) of Life Insurance Corporation of India (LIC) as it has asked regulators for a swift review of Life Insurance Corporation's draft prospectus.
The Securities and Exchange Board of India (SEBI) has been urged to complete its vetting process in less than three weeks instead of the 75 days it usually requires, they said, Reuters reported, quoting two government sources with knowledge of the matter.
"We have 10 bankers for the deal. They are available 24/7 for any questions SEBI might have," said one of the government officials, adding that a "clean" draft prospectus would be submitted, the Reuters report says.
LIC IPO TO BE LISTED BY MARCH 31
Meanwhile, a top official said on Thursday that the government will list the country's largest insurer LIC on the stock exchanges by March-end.
The draft papers for LIC's initial public offering (IPO) is being finalised and will be filed with market regulator Sebi soon for its approval, PTI reported.
"LIC disinvestment amount will be included in this year's (Budget) because we aim to list it before March 31," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI.
