The much anticipated Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC) is just Around the corner.
The IPO, which already anticipated as the biggest in India yet, will get a further boost as the Government of India plans to sell a 25% stake in the company.
Sources close to the operation spoke to Money Control. They said, “Dilution of government shareholding from 100 per cent to 75 per cent in LIC in one or more tranches has been proposed.”
It is being reported that the government plans to incentivise retail investors by giving them a further discount.
The reason why the government has decided to sell addition stake in the company is that there has been a huge budget deficit that the government is facing due to the COVID-19 pandemic.
LIC IPO: Govt may sell up to 25% stake; bonus and discount for retail investors on the table https://t.co/fVMuK9xSyP
— Lakshman Roy (@RoyLakshman) September 7, 2020
