LIC ready to bring IPO, bumper earnings in the third quarter, net profit increased by 258 times

Big update on LIC IPO, time till May 12 to bring IPO to the government without submitting fresh paper

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LIC IPO Latest Updates: Investors are eagerly waiting for the Mega IPO of the country’s largest insurance company Life Insurance Corporation of India ie LIC (Life Insurance Corporation of India). The atmosphere of discussions regarding LIC IPO is intense. According to news agency PTI, the government has time till May 12 to bring LIC’s IPO without filing new documents with the Securities and Exchange Board of India (SEBI).

IPO plans derailed after Russia-Ukraine crisis

The government had earlier planned to bring an IPO in March for the sale of about 316 million shares or five per cent stake in LIC. It was expected to raise around Rs 60,000 crore from this IPO. However, in view of the huge volatility in the stock market after the Russia-Ukraine crisis, the IPO plan has been derailed.

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An official said, “We have time till May 12 to bring the IPO based on the documents filed with SEBI. We are monitoring the volatility and will soon file the RHP with the price range.”

Waiting for the market to stabilize

If the government is not able to bring the IPO by May 12, then it will have to file fresh papers with SEBI stating the results of the December quarter. The official further said that although the volatility in the market has eased in the last fortnight, it will be waited for the market to stabilize further, so that retail investors can be confident of investing in the stock.

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“Around Rs 20,000 crore is needed to fully fill the reserve for retail investors,” the official said. As per our market assessment, the current retail demand is not sufficient to fill the entire quota of shares.

Tags: LIC IPO, Life Insurance Corporation of India (LIC)

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