LIC IPO To Be Open In Last Week Of April, Know All Details

Latest LIC IPO Developments

Every investor has eyes on the much-awaited Initial Public Offering (IPO) Of Life Insurance Corporation of India (LIC). It has been rescheduled several times, breaking the excitement of investors. But now as per recent reports, LIC IPO is all set to be launched in the last week of April. And now the Government is also planning to increase the share of 5 per cent stake which it has planned earlier to sell through Public Issue. The recent incidents such as the Russia-Ukraine war have created an adverse impact on Stock Market and have provoked the government to consider increasing the size of this largest IPO after.

Latest LIC IPO Developments

Government To DRHP Again

As per the sources told to CNBC-TV18, yesterday the Department of Investment and Public Asset Management (DIPAM) had a meeting with investment bankers to discuss the decision of increasing the size of LIC IPO. Now the government may again file the modified Draft Red Herring Prospectus (DRHP) to the Stock And Exchange Board Of India (SEBI) today.

Previously the Union Government was targeting to raise ₹60,000 Cr by selling a stake of 5 per cent. It is also known that they can sell a maximum of 7.5 per cent without needing the exemption from SEBI. Now the revision can aim to sell the stake ranging from 5.5 per cent to 6.5 per cent, it all depends on the demands of investors.

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LIC IPO About To Launch In April

This much-awaited Initial Public Offering is all set to be written in history as the largest ever Public issue to be listed on the stock exchange. As per the Draft, ₹5.39 lakh cr is the fixed value of LIC as of September 31, 2022.

The government was eager to launch the LIC IPO in the financial year 2022. But the recent Russia-Ukraine conflict has affected the stock market adversely.

On March 1, FM Nirmala Sitharaman said, “Ideally, I’d like to go ahead with it because we’d planned it for some time based purely on Indian considerations. But if global considerations warrant that I need to look at it, I wouldn’t mind looking at it again.” “When a private sector promoter takes this call, he has to only explain this to the company’s board. But I would have to explain it to the whole world.”

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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