The most recent LIC IPO update includes the issue size, expected launch date, and other important facts

The government is expected to announce the timing of the initial public offering (IPO) of Life Insurance Corporation of India (LIC) soon. The grand inaugural share sale was planned to take place in March, but it was postponed due to the stock market’s instability following Russia’s invasion of Ukraine.

By the end of this week, the government may make a decision on the timing for LIC’s IPO.

DATE OF THE LIC IPO

The government has until May 12 to launch the LIC’s initial public offering (IPO) without publishing a new Draft Red Herring Prospectus (DRHP).

They will know whether or not to proceed with the LIC IPO by the end of this week, according to a government official who spoke to Business Today TV earlier this week.

SIZE OF THE LIC IPO

The government was anticipated to earn more than Rs 60,000 crore through the sale of 31.6 crore shares in LIC, or 5% of the company.

However, according to a Bloomberg article published on Friday, the government may reduce the size of the LIC IPO by 40%. According to the Bloomberg report, the government hoped to collect Rs 30,000 crore through the LIC’s IPO.

The LIC IPO, whether at Rs 60,000 crore or Rs 30,000 crore, would be the largest in the history of the Indian stock market.

So far, the sum raised from Paytm’s IPO in 2021 has been the highest ever at Rs 18,300 crore, with Coal India (2010) raising almost Rs 15,500 crore and Reliance Power (2008) raising Rs 11,700 crore.