Monday, October 25, 2021
HomeNewsThe LIC countdown has begun. The IPO process has begun, and the...

The LIC countdown has begun. The IPO process has begun, and the company will submit documentation to SEBI next month

In November, the country’s largest insurance business (LIC) will file documents with SEBI for an initial public offering (IPO).

In November, the country’s largest insurance firm (LIC) will file documents with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). This information was provided by a Ministry of Finance official.

‘Our objective is to introduce the IPO in the current financial year alone,’ the person told PTI. For this, we’ve set a rigorous timeline. In November, the DRHP will be filed. The government hired ten merchant bankers to manage the IPO last month, including Goldman Sachs (India) Securities Pvt Ltd, Citigroup Global Markets India Pvt Ltd, and Nomura Financial Advisory and Securities (India) Pvt Ltd.

Read More: Xiaomi is bringing a Drone Camera Phone, will fly in the air and take HD photos like this, know when it will be launched

SBI Capital Markets Limited, JM Financial Limited, Axis Capital Limited, BofA Securities, JP Morgan India Private Limited, ICICI Securities Limited, and Kotak Mahindra Capital Company Limited are among the other banks that have been chosen.

According to the official, merchant bankers will organise worldwide and domestic road shows for investors after the IPO filings are filed. Cyril Amarchand Mangaldas has been named as the IPO’s legal advisor.

The government has tasked actuarial firm Milliman Advisors LLP India with determining the LIC’s underlying value. Foreign investors may be allowed to buy a stake in the country’s largest insurance firm, according to the government. The IPO of LI was approved by the Cabinet Committee on Economic Affairs (CCEA) in July.



Please enter your comment!
Please enter your name here

Most Popular


5000 MG Astor booked in minutes, 2021 Stocks are out, Delivery will start soon

MG Motor India started the pre-booking of its mid-size SUV MG Astor on Thursday. Its 5000 units were booked in just a few minutes...

इस दिवाली घर ले आएं शानदार SUV कार, ये हैं 5 बेस्ट ऑप्शन; कीमत 6 लाख से भी कम

Best SUV Under 6 Lakh: इस फेस्टिवल सीजन पर आप भी नई कार लेने का प्लान बना रहे हैं, तो ये खबर आपके लिए...

Mallika Sherawat shares Amazing pictures, People got shocked

Beautiful pictures of Bollywood actress Mallika Sherawat are becoming increasingly viral. People have got to see such a form of the actress after a...

PhonePe Big news! Charges increased for UPI Payment, know why

Digital payment app, PhonePe has recently announced that it will now charge a special processing fee on its UPI and credit card transactions. Testing...

Interest from the PF has arrived in the account! Money may be withdrawn in less than an hour, and you can check your balance...

EPFO Latest News: EPFO is distributing interest money to employees' accounts before Diwali. If you wish to withdraw PF money around Diwali, we'll show you...


* indicates required