LIC IPO: Policyholders can link PAN-LIC to buy IPO, here’s how
Zee News
Finance Minister Nirmala Sitharaman first proposed the LIC IPO in the Union budget for 2020-2021.
New Delhi: The Life Insurance Corporation of India has been contemplating an initial public offering, or IPO, for a long time. While the issue's date and price range have yet to be disclosed, the LIC is hard at work preparing for the public offering.
The life insurance firm invited its clients to join in the offering earlier this week and encouraged them to do so by opening demat accounts. By this week, LIC intends to file the draught IPO prospectus with market regulator Sebi. When the issue is listed on the markets, it is expected to raise between Rs 40,000 and Rs 1 lakh crore.
The government will need the LIC IPO to reach its Rs 1.75 crore disinvestment objective for the current fiscal year, which includes privatisation and minority stake sales.
