LIC IPO Price Band Between Rs 902 And 949: Source -By ASC

The long-awaited public issue offer of The Life Insurance Corporation (LIC), the largest in India, will be in the Rs 902-949 price range, with a Rs 60 discount for policyholders and a Rs 45 discount for retail investors and employees, according to resource government.

Initial Public Offerings (IPOs) will open on May 2 for major investors, and on May 4 to May 9 for investors, the source added.

On Saturday, the LIC board approved a reduction in the size of its IPO issue to 3.5 percent from 5 percent, sources said.

The government is expected to sell its 3.5 per cent stake in LIC for ₹ 21,000 crore, subject to the approval of the Securities and Exchange Board of India’s capital market regulator, SEBI.

Government sources also said that there was an option to increase the holding offer from 3.5 per cent to 5 per cent, in which case the state fund would raise Rs 30,000 crore from the sale of its equity.


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