LIC to hold roadshows ahead of IPO launch | Top details
India Today
The roadshows will be held in Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot, and Kolkata.
Life Insurance Corporation of India (LIC) management and investment bankers will hold roadshows in six cities across India ahead of the launch of its initial public offering (IPO), according to a Reuters report. LIC filed a preliminary IPO prospectus on Tuesday with the regulator Securities and Exchange Board of India (Sebi).
The roadshows will be held in Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot, and Kolkata. During these roadshows, LIC management and investment bankers will meet potential investors and analysts.
The road shows are likely to finish by the end of this week. In the last two years, physical roadshows came to a grinding halt due to the COVID-19 pandemic, but with infections down, LIC management has decided to restart the process, the Reuters report said.
Online roadshows covering investors across other regions will continue.
Meanwhile, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey on Wednesday said the listing of LIC is part of the long-term strategic vision of the government and will highly enhance the value of the corporation in the long-run.
"This (LIC IPO) is right sized, considering the capital market environment and will not crowd out capital supply given the current market environment," Pandey said.
Even after the reduced size of about Rs 20,557 crore, the LIC IPO is going to be the biggest initial public offering ever in the country, he said.
