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New Delhi. Investors are eagerly waiting for the Mega IPO of the country’s largest insurance company Life Insurance Corporation of India i.e. LIC. The IPO is expected to launch in March, before the end of the current financial year. Meanwhile, the company has submitted the initial documents for the IPO with the country’s market regulator Securities and Exchange Board of India (SEBI).
Through this IPO, the government is offering 5 percent stake in LIC. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), tweeted, “DRHP for LIC’s IPO has been filed with SEBI today. Under this, 316 crore shares will be offered, which is equivalent to 5 per cent stake.
International firm Milliman Advisors has estimated the embedded value of LIC at around Rs 5.4 lakh crore as of 30 September 2021, according to the Draft Red Herring Prospectus (DRHP).
IPO will be OFS based only
According to Moneycontrol sources, according to DRHP, this IPO will be completely based on Offer for Sale (OFS). Under this IPO, the company is going to sell 5% equity stake of the government. The government will sell 316 crore equity shares out of a total of 632 crore equity shares to investors through this IPO.
#BreakingNews , #LIC Files #IPO #DRHP with @SEBI_India pic.twitter.com/93geOw5DzE
— CNBC-TV18 (@CNBCTV18Live) February 13, 2022
biggest ipo
Market experts say that LIC’s IPO can prove to be Saudi Aramco’s IPO for India. Saudi Aramco is one of the largest oil companies in the world. Its listing of $ 2940 million (Rs 2.19 lakh crore) is the largest listing in the world.
Link PAN Card with LIC Policy
If you are a policyholder of LIC and want to buy shares in the IPO, then your PAN card has to be linked with the policy. The company has asked its policy holders to do the same. Without it it would be impossible to apply in the IPO. LIC has said that to participate in the IPO, policyholders will have to check whether their PAN card details are recorded in the records of LIC.
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Tags: IPO, LIC IPO, Life Insurance Corporation of India (LIC)
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