LIC IPO to be Floated in May’s First Week

The Indian government had confirmed that the LIC IPO will be sailed in May’s first week, but the diminishing demand for initial public issues might play grinch. Growing inflation, the change in economic approaches of advanced governments, and immense disorder in the supply chain have frightened the investors. And made the enterprises anxious about venturing into an IPO during the times.

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Current media reports reveal that LIC filed a modified DRHP to the regulator after its first DHRP to the SEBI’s market regulator on Feb 13. It is noteworthy, that SEBI’s permission for the earlier DRHP is going to expire by May 12, and obeying this it has to submit the draft paper again for SEBI’s approval. the refreshed IPO paper has to be updated with the latest updated value. This would bring LIC’s valuation to ₹6 lakh crore, close to market giants like Reliance Industries or Tata Consultancy Services (TCS).

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This IPO is going to have 9,000 crore greenshoe OPtion too.

The IPO of LIC is going to be paramount to the Union government’s enterprising disinvestment objectives. The government has bettered the mark for the current fiscal to around ₹64,000 crores.

Categories IPO
Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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