IPO Launch: The central government is preparing for the Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC). According to media reports, LIC’s IPO will be launched in the month of March. It is estimated that the launch of the IPO may happen around March 15.
LIC IPO: If you are also waiting for Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC), then this news is for you only. LIC officials say that by March 2022, LIC’s IPO will definitely knock in the market. According to reports, LIC’s IPO will be launched in the month of March. It is estimated that the launch of the IPO may happen around March 15.
LIC will present the draft by the end of January
According to the news of PTI, the government will present the draft before the market regulator SEBI for its approval by the end of January. An official associated with the matter said on Thursday that the financial data of LIC for July-September 2021 is being finalised. Apart from this, the process of fund distribution is also going on.
Scheduled to come by the end of the current financial year
According to reports, the LIC official said that we are expected to submit the draft proposal related to the IPO with the Securities and Exchange Board of India (SEBI) by the end of this month. It is certain that LIC’s IPO will come by the end of the current financial year. LIC’s IPO is considered very important in terms of achieving the disinvestment target of Rs 1.75 lakh crore for the current financial year. So far, the government has been able to raise only Rs 9,330 crore from the disinvestment of several public sector undertakings (PSUs).
Appointment of 10 merchant bankers
The government had appointed 10 merchant bankers in September last year to conduct the initial issue of the country’s largest insurance company LIC. These include Goldman Sachs, Citigroup, and Nomura. At the same time, Cyril Amarchand Mangaldas was nominated as a legal advisor. The Cabinet Committee on Economic Affairs had approved the disinvestment of LIC in July last year. It is believed to be the biggest IPO in the country till date.