LIC IPO: The IPO of the country’s largest insurance company LIC is coming in March. The Insurance Regulatory and Development Authority of India (IRDAI), the regulator of the insurance sector, has given approval to LIC India to launch an IPO. It is now believed that LIC can file a draft paper (DRHP) with the stock market regulator SEBI today.
According to CNBC-TV18 sources, the insurance company is expected to file its draft red herring prospectus (DRHP) on February 11.
Plan to raise Rs 1 lakh crore through IPO
Let us tell you that LIC is coming up with the biggest IPO in India’s stock market history. The government is planning to raise up to Rs 1 lakh crore through sale of shares in LIC IPO. The market capitalization of LIC after listing on the stock exchange is expected to be in the range of Rs 13 to 15 lakh crore.
10% reserve for LIC policyholders
Along with this, there is another good news for the people having LIC policy. It is expected that 10 percent of this IPO will be reserved for them. This will increase their chances of getting shares. Apart from this, he is also expected to get some discount in the price per share.
Earlier in January, DIPAM secretary Tuhin Kanta Pandey told CNBC-TV18 that the government is targeting an early March date for the LIC IPO. Pandey had said that LIC’s IPO is very important and the next big task of the government.
The country’s largest listed company will be
According to London-based Brand Finance, the market value of LIC is estimated to reach 43 lakh crores this year. It is expected to increase to Rs 58.9 lakh crore in the next five years i.e. by 2027. In this way, it can remain the largest company of the country for the next several years.