LIC IPO to open up on May 4 and also shut on May 9: Sources
LIC IPO to open up on May 4 and also shut on May 9: Sources
Highlights
- The going public of LIC will certainly open up on May 4 and also shut on May 9:Sources
- The IPO, whereby govt will certainly offer 3.5% risk in state-owned LIC will certainly bring Rs 21K crore.
- The IPO worths LIC at Rs 6 lakh crore.
The going public of the country’s biggest insurance provider LIC will certainly open up on May 4 and also shut on May 9, reported news company PTI estimating resources.
The government is most likely to offer a 3.5 percent risk in Life Insurance Corporation (LIC) with a going public which will certainly strike the marketplaces in the very first week of the following month, an authorities stated.
The problem dimension is anticipated to be worth Rs 21,000 crore, valuing the country’s biggest insurance provider at Rs 6 lakh crore. The IPO was initially intended to be introduced in March, however the Russia-Ukraine situation has actually thwarted the strategies as stock exchange are very unpredictable.
The government has time till May 12 to release the IPO without submitting fresh documents with the Securities and also Exchange Board of India.
Also Read| Will RBI increase interest rate in first monetary policy of current fiscal? What experts say
