Stay updated with the latest news and articles about LIC IPO.
LIC share price opened today at 800.25 per share on NSE and went on to hit a new low of 786.10 per share in the opening bell, with its market value falling below 5 lakh crore to around 4.97 lakh crore.
According to data available with the exchanges, Life Insurance Corp's IPO, India's largest initial share sale, was subscribed 2.95 times on the final day of bidding on Monday.
The Life Insurance Corporation of India's first public offering garnered a strong reaction from investors, with the insurance giant's offering being subscribed 2.94 times.
The All India Bank Officers' Confederation (AIBOC), the banking industry's apex body, has objected to the RBI's decision to open ASBA-designated branches on Sunday, May 8, to facilitate LIC IPO subscription.
LIC IPO is set to be open on May 4 for subscription. The government has set the price band at Rs 902- 949 a share.
The Centre is also trying to confirm participation from international sovereign and pension funds that had expressed interest in the public offering previously.
LIC is set to soon open its IPO on May 2 according to sources where the Offloading stake has also been changed due to the current geopolitical crisis.
India's largest public offering of Life Insurance Corporation of India (LIC) has received the nod from the capital market regulator Sebi to float the mega IPO.
Sunil Agarwal was the CFO of Reliance Nippon Life Insurance for 12 years. Before that, he has worked with ICICI Prudential Life Insurance for 5 years.
The decision is anticipated at the conference of the Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA), which is slated for tomorrow, according to reports.
The insurance behemoth has arranged a draft paper for its share deal with the market control. The market is anticipating authorization soon and public bidding will likely start by mid-March
The release of the DRHP, according to Sitharaman, has heightened interest in the LIC IPO. "I think the way it's put together has piqued people's interest," FM Sitharaman said.
“LIC would be the third-largest stock in India by market cap, and the 32nd-largest by free float, assuring an entry into mainstream indices, e.g., Nifty-50," asserted a report by UBS Global Research
The IPO proposal was cleared by IRDAI in its board meet yesterday. The LIC DRHP filing with SEBI is likely to happen tomorrow, i.e on February 11, 2022.
The tie-up aims at facilitating seamless digital distribution of life insurance products across the nation.
Showing 15 of 226,935 articles