The government of india is selling 3.5 per cent stake in LIC to raise Rs 21,000 crore.
The IPO of India's largest insurance company Life Insurance Corporation of India (LIC) will be open for general investors from 4 to 9 May 2022.
Let us tell you that before the general investors, LIC's IPO will open for anchor investors on 2 May 2022.
According to the news, more than 25 big investors from the country and abroad have shown interest in this IPO of LIC.
An LIC official said that during the IPO, 50 per cent of the shares have been earmarked for eligible institutional allocation (QIP) and anchor investors.
Out of the shares reserved for the QIP of LIC IPO, 35 per cent will be reserved for anchor investors.
In LIC IPO, 35 percent shares have been reserved for retail investors, 15 percent for HNIs and 10 percent for policy holders.
LIC Managing Director Siddharth Mohanty said that the government's stake in LIC will never be less than 51 percent.
LIC's IPO will be conducted by a professional board of directors consisting of nine independent directors.
LIC was formed in the year 1956 by the Government of India with an initial investment of only five crore rupees.
LIC IPO Announced: Let us know the complete details of LIC IPO Dates, Price Band, Lot Size and Issue Size.