LIC IPO may finally be Launched in the Last week of April

According to multiple media reports, State-backed insurance giant, Life Insurance Corporation of India (LIC) is likely to launch its initial public offering (IPO) in the last week of April, The government is expected to file an updated draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) on April 13. The IPO of LIC has been delayed a bit. Its IPO was supposed to be completed by the month of  March 2022 as told by the government to achieve the divestment target.

However, the Russia-Ukraine conflict in the month of February triggered one of the biggest market crashes This eventually hit the commodity markets and triggered inflation. This is said to be one of the major reasons to postpone the IPO of LIC. According to the original DRHP, the government is looking to sell 31 crore equity shares or 5% stake in the company via IPO. Reportedly, the LIC IPO is expected to fetch around ₹60,000 crore.LIC’s IPO  will be the largest ever public issue in the history of Indian stock markets.10% of the LIC IPO issue size is reserved for policyholders who would get some discount on the issue price.