LIC IPO Date: Govt Likely to Launch IPO by Early-May, May Offer to Sell Over 5%
2 years, 8 months ago

LIC IPO Date: Govt Likely to Launch IPO by Early-May, May Offer to Sell Over 5%

News 18  

The government is likely to launch Life Insurance Corporation’s initial public offering by early-May. According to the sources, the government has time till May 12 to launch the LIC IPO without filing fresh papers with Sebi. With a five per cent stake dilution, the LIC IPO will be the biggest ever in the Indian stock market’s history and once listed, LIC’s market valuation would be comparable to top companies like RIL and Tata Consultancy Services. To meet a disinvestment target of Rs 78,000 crore in the current financial year, the government expects to mop up Rs 63,000 crore by selling a five percent stake in the life insurance firm. LIC’s profit after tax increased to Rs 234.91 crore in the December 2021 quarter from Rs 0.91 crore a year earlier, according to the insurer’s website.

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