LIC IPO worth band set between Rs 902-949: Report – Instances of India


NEW DELHI: The worth band for Life Insurance Corporation‘s (LIC) mega preliminary public providing (IPO) has been set at Rs 902-949, information company Reuters reported quoting sources.
The difficulty is prone to open on Might four and shut on Might 9.
The IPO, by which the federal government will promote 3.5 per cent stake in state-owned Life Insurance coverage Company (LIC), will fetch Rs 21,000 crore to the exchequer.
The IPO values LIC at Rs 6 lakh crore.
The federal government had in February deliberate to promote 5 per cent stake or 31.6 crore shares within the insurance coverage behemoth and had filed draft papers with Sebi.
Nonetheless, the IPO plans confronted headwinds from the continuing market volatility as a result of Russia-Ukraine conflict.

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