LIC IPO: The issue of LIC, the country’s largest insurance company, is opening on May 4. Sources familiar with the matter said that the issue will close on April 9. CNBC TV 18 had given this information only on 25 April.
In February this year, the government handed over the draft papers to the regulator. The government was earlier going to sell 316 crore shares or 5 per cent stake in LIC. However, due to volatility in the market, the government had to postpone the IPO for some time. LIC has 28 crore policyholders and has a corpus of Rs 34.3 lakh crore.
According to Reuters, the listing of LIC is expected in the first week of May and its price, issue date, reservation and discount are expected to be announced on April 27.