LIC IPO latest update: Issue size, expected launch date, other key details
India Today
The LIC IPO would be the biggest ever in the history of the Indian stock market.
The government is likely to announce the launch date of Life Insurance Corporation of India's (LIC) initial public offering (IPO) soon. The grand initial share sale was supposed to hit the market in March but the process was delayed after the share market slipped into volatility following Russia's invasion of Ukraine.
The government may take a call on the timeline of LIC's IPO by the end of this week.
The government has time till May 12 to launch the LIC's IPO without filing a fresh Draft Red Herring Prospectus (DRHP).
"We will have clarity on if we are going ahead with the LIC IPO within the stipulated deadline by the end of this week," a government official told Business Today TV earlier this week.
"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 said.
The government was expected to garner over Rs 60,000 crore by selling about 31.6 crore or 5 per cent stake in LIC.
However, according to a bloomberg report on Friday, the government may cut the LIC IPO size by 40 per cent. The government was looking to raise Rs 30,000 crore through the LIC's IPO, the bloomberg report said.
