LIC IPO: The ongoing war between Russia and Ukraine has deeply affected LIC IPO and its issue size may decrease by 40 percent.
LIC IPO: The ongoing war between Russia and Ukraine has deeply affected the valuation of LIC. According to the information, the country’s largest life insurance company LIC can bring an IPO of 30 thousand crore rupees ($ 3900 million), which is about 40 percent less than the earlier estimates. However, despite this, it will be the biggest ever in the country’s IPO history. According to information received from sources, the officials want to complete its listing in the next two weeks. The valuation of LIC is expected to be around Rs 6 lakh crore.
Decision to be taken before May 12
Earlier, the central government’s plan was to raise Rs 50,000 crore by selling 7 per cent stake in LIC. This was informed by Bloomberg News. However, now according to sources, there is a plan to sell only a little more than 5 per cent stake in view of the weak trend of investors. However, the point to be kept in mind here is that if the government does not bring LIC’s IPO by May 112, then the market regulator will have to submit papers again and get approval.
LIC to bring biggest ever IPO
LIC’s IPO could be India’s biggest issue ever. Just now the country’s largest IPO was brought by Paytm’s One97 Communications. In November 2021 last year, it had raised Rs 18300 crore through IPO. Talking about this year, Indian companies have raised $110 million (Rs 8401.84 crore) through IPO in this year 2022, which is half of about $ 300 million (Rs 22914.11 crore) raised through IPO in the same period last year 2021. less than .