LIC Applies For IPO With SEBI, IPO Size May Be Around Rs 63000 Crore
The countdown has started for the country’s biggest IPO. Life Insurance Corporation (LIC) has filed for IPO with SEBI. The Secretary of DIPAM gave this information. He said that DRHP (Draft Paper) has been filed for LIC IPO today. The biggest ever Initial Public Offer (LIC IPO) in the history of the country is expected to hit the market by March.
The valuation has been estimated at around Rs 12.6 lakh crore. It is being told that the size of the IPO can be around Rs 63000 crore. The total equity will be about 632 crore shares. The government is selling 5 per cent stake in it. The central government is selling 31.6 crore shares.