LIC IPO Launch Likely in End-April; Know Date, Discount, Anchor Investors, Other Details
News 18LIC IPO: In a major development in the run-up to the listing of the life insurance behemoth, the government has amended the rules of the Foreign Exchange Management Act. LIC IPO: Updated DRHP According to sources, the country’s largest insurer is likely to file an updated draft red herring prospectus for the LIC IPO after consultations between the Department of Investment and Public Asset Management and investment bankers and a key meeting of the LIC board. LIC IPO: Reduced Valuation The LIC board is likely to decide on reducing the valuation of the company and offering more shares in its initial public offer that will make the float more attractive to many of its policyholders who are first-time investors. LIC IPO: Centre Wooing Sovereign, Pension Funds The government has reached out to Abu Dhabi Investment Authority, Singapore-based GIC, three Canadian pension funds and Qatar Investment Authority among other sovereign wealth funds and pension funds on being anchor investors in Life Insurance Corporation of India’s initial public offer.