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new Delhi. LIC is preparing to bring the country’s biggest public offerLIC IPOA rule of market regulator SEBI for (SEBI Norms) can create problems. listed on the stock exchange under this rule (Listed companyLife Insurance Corporation of India (LIC) may have to sell another 20 per cent stake within three years of its occurrence. LIC’s IPO (LIC IPO Launching Date) may come on March 11.
According to SEBI rules, any company to be listed on the stock exchange has to reserve 25 per cent stake for the general public within three years. Analysts say that LIC is selling only 5 per cent of its stake through IPO. This means that the country’s largest insurance company will have to sell another 20 per cent stake in the next three years. In this way, it will have to sell an average of about 42 crore shares every year. Its total cost can be around Rs 2.5 lakh crore.
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Some questions that need answers
Analysts say that if LIC follows this rule of SEBI, then will the market be able to handle the supply of such a huge number of shares.
If this does not happen, then the government will make a special for LIC and exempt it from the rule of reserving 25 percent stake for the general public.
What will be the role of market regulator SEBI in this matter. The situation regarding these questions is not clear yet.
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will become the third largest company
After listing in the stock market, there will be a tremendous increase in the market capitalization of LIC. It will become the third largest company by market capitalization after Reliance Industries Limited (RIL) and Tata Consultancy Services (TCS). 60,000 to 90,000 crore is expected to be raised from this IPO.
Insurance company alone will raise half the amount
The companies had raised a record Rs 1.20 lakh crore through IPOs last year. LIC alone is going to raise half of its amount by selling 5 percent stake in its IPO. This shows the power of LIC in the Indian market. In this IPO, it is being said that about 35 per cent stake i.e. 11 crore shares will be reserved for retail investors. As of October 2021, only 73 million people had demat accounts in India. Therefore, it also has to be seen how much the reserved part can be filled.
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Investors should not worry about government control: Chairman
LIC Chairman MR Kumar said that investors need not worry about the government’s control over the company after the IPO. The company has sufficient capital. He doesn’t need the money now. If we need it, we will take help not only from the government but from all the stakeholders. He said that the decision in the country’s largest insurance company is not taken by the government but its board. Even after the IPO, the government’s stake in the company will remain 95 percent.
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Tags: LIC IPO, Life Insurance Corporation of India (LIC), SEBI
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