LIC IPO will be biggest despite reduced offer size, says DIPAM Secretary
Zee News
The government has brought down the issue size from 5 per cent to 3.5 per cent.
New Delhi: The initial public offering (IPO) of the Life Insurance Corporation will be the biggest issue in India despite the reduced offer size, Department of Investment and Public Asset Management (DIPAM) Secretary, Tuhin Kanta Pandey said on Wednesday.
The government has brought down the issue size from 5 per cent to 3.5 per cent.
"Listing of LIC is a part of long-term strategic vision of the government and will be of high value enhancing for the LIC in the long run," Pandey said at a press conference.
The current listing is the first step of long-term value creation for LIC shareholders, he added.
The long-awaited IP) is likely to open for investors on May 4 and will remain open to subscription till May 9.
