ArticlesLIC IPO Update is likely to be issue its IPO between April...

LIC IPO Update is likely to be issue its IPO between April 25 and 29

LIC IPO: The government was scheduled to launch the LIC IPO in March. But the decision was postponed due to the instability in the world market in the midst of the Russia-Ukraine war.

LIC IPO Exclusive News: All investors are waiting for the biggest IPO in the country. LIC is expected to issue its IPO between April 25 and 29.

With this, LIC may file its UTRHP (Updated Red Herring Prospectus) with the Securities and Exchange Board of India (SEBI) tomorrow (Wednesday, April 13).

LIC’s IPO coming soon

Significantly, the government was due to launch the LIC IPO in March. But the decision was postponed due to the instability in the world market in the midst of the Russia-Ukraine war. Currently the market situation seems to be returning to normal.

Therefore, it is expected that the government will soon bring in LIC’s IPO. The government is likely to sell 5 to 6.5 per cent stake in LIC through its IPO. The government plans to raise between Rs 50,000 crore and Rs 60,000 crore through the LIC IPO.

Veranda Learning IPO Share Allotment How to Check the Status of your application? Listing on April 7

Would be the biggest IPO

It is noteworthy that LIC’s IPO will be the largest in the country. Through LIC’s IPO, the government aims to raise over Rs 60,000 crore in the current financial year and reach its revised investment target of Rs 78,000 crore.

The draft was sent in February

It is noteworthy that LIC filed draft documents with the market regulator in February. As per this draft, it intends to sell 31,62,49,885 shares of LIC’s total of 632 crore shares.

Of this, 50 per cent will be earmarked for Qualified Institutional Investors (QIBs). And for non-company investors this amount would be 15 percent.

BankBazaar IPO on Cards: Preparing to bring BankBazaar IPO, listing intention in 2023, 1500 new employees will also be hired

Valid for 12 months

Now that the LIC IPO has been approved by SEBI, this IPO is valid for 12 months from the date of approval. The key decision regarding the LIC IPO was taken at the Cabinet meeting. Of this, foreign direct investment (FDI) was allowed up to 20 per cent through automation.

Following this decision, the doors have been opened for foreign investment in LIC’s proposed IPO. However, it is noteworthy that in view of the declining market environment, foreign investors are now beginning to withdraw money from the market.

Stock balance for policyholders and employees

The shares are reserved for LIC policyholders and employees of the company. The LIC issue will be offered at an IPO discount for both parties.

According to the report, 10 per cent of the shares have been allotted to the policyholders as per the draft document submitted to SEBI. That is, even if your LIC policy expires, you are likely to receive shares in the reserve quota. Apart from this a percentage share will be allotted to LIC employees.

To Get Latest Breaking News Headlines Keep Follow us on social media to get instant news and share your thoughts.

Like @imaphsy on Facebook, @imaphsy on Twitter and https://t.me/imaphsynews on Telegram.

Subscribe to Get News on Your Email Inbox

To be updated with all the latest breaking news on your email

Covid India Active Cases

India
15,414
Total active cases
Updated on May 26, 2022 2:33 pm

Trending Stories

Indigo Q4 Result 2022 Rising expenditure on fuel showed its effect, loss increased to...

InterGlobe Aviation, which operates India's largest airline IndiGo, has released the results for the fourth quarter of the financial year 2021-22 ended on May...

Elon Musk has Impressed on Elden Ring Video Game

Elon Musk a Top Billionaire in the world he is very active on Twitter however when he tweet about anything it goes to be...

Super Star Rajinikanth Thalaivar 169 likely to Release 14 April 2023 Tamil New Year

Following the success of Annaatthe, Rajinikanth has surprised fans by announcing his next film with 'Beast' director Nelson DilipKumar.The announcement was made shortly before...

Up to 90% off Dubai Super Sale sales at Shopping Malls

Dubai: The long-awaited 3-day Super Sale has resumed in Dubai. From May 27 to 29, discounts of up to 90 per cent will be...

Do this breathing exercise every night before sleeping, better sleep will come

Sleep is important for our health because by sleeping peacefully, the body feels refreshed and it also provides many other health benefits.On the contrary,...

Recently Popular

Diet Mistakes People making these 10 big mistakes in diet, know how dangerous it is for the body

Some minor mistakes related to diet are proving to be very fatal for our health....

Motorola G52 new 5G smartphone at a budget price, features, camera & offers

Motorola has introduced the new Moto G52 5G smartphone in the Indian market. Motorola has...

CGBSE Chhattisgarh Board 10th Result 2022 Declared Toppers List @ results.cg.nic.in

Chhattisgarh Board 10th Result 2022 LIVE Updates: The Chhattisgarh Board has announced the results of...

Maharshtra Lifts Covid Restrictions Including Mask from April 2

Mumbai: The state government has announced that all corona restrictions will be lifted in Maharashtra...

CBSE Term 2 Admit Card 2022 know when and where you can download

CBSE Term-2 Admit Card 2022: The admit card of 10th-12th Term-2 examination will be issued...

Chhattisgarh 12th Result 2022 Not Declare on Today but This Week Announcing

Raipur: CGBSE Class 12th Board Exam Result 2022 will not announce on May 12 today....