LIC IPO : LIC’s IPO will open on May 4, investors can apply till May 9

LIC IPO : LIC's IPO will open on May 4, investors can apply till May 9

  • LIC’s IPO will open on May 4
  • Investors will be able to apply until May 9
The date for the country’s largest initial public offering (IPO) has been set. This means that the IPO of Life Insurance Corporation (LIC) will open on May 94 and investors will be able to apply for shares in this public offering till May 9. According to the information received, the LIC board will hold an important meeting on Tuesday in which the date regarding the IPO of LIC will be approved. That is, the meeting will be officially announced.

LIC IPO Details

The government had planned to sell 5% stake in the country’s largest life insurance company. However, the government will now issue only 3.5% shares for the IPO. LIC’s valuation for IPO is Rs 6 lakh crore. In this regard, the size of this IPO will now be Rs 21,000 crore. However, an official said that if the demand in the market remains good, the government can sell it up to 5%.
The government had proposed to issue 31.62 crore shares in the draft red herring prospectus (DRHP) submitted to SEBI on February 13, which was about 5% of the total equity shares.
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