Good news has come for the investors waiting for the IPO of the country's largest insurance company LIC.
Earlier it was estimated that the government would sell around 5 per cent stake in LIC's IPO. But in the new report it is estimated that the govt may sell 7 percent stake in LIC.
LIC's IPO will be the biggest ever in the history of the Indian stock market. Once listed, the market value of LIC will be almost at par with top companies like Reliance and TCS.
Let us tell you that on February 13, the government had filed the draft red herring prospectus (DRHP) for the IPO with SEBI, which was approved by SEBI last week.
LIC IPO Date
The government's plan was to bring LIC's IPO in the first week of March. But LIC's IPO had to be postponed due to the Russo-Ukraine war.
Now the draft of Life Insurance Corporation of India IPO has been approved by SEBI. SEBI has given the government time till May 12 to bring LIC's IPO.
It is clear from the deadline given by SEBI to the government till May 12 to bring the IPO of LIC, that the IPO of LIC can come before May 12.
If the government misses the available window till May 12, it will have to file fresh papers with SEBI stating LIC's December quarter results and also update the embedded value.
After approval from SEBI, any company has to bring IPO in a certain time. At present, the LIC which has got time till May 12. the government intends to IPO lane even before this deadline.
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