New Delhi The country’s largest insurance company LIC (Life Insurance Corp. of India) is preparing to bring IPO. Before this, the government wants to raise Rs 25,000 crore from anchor investors. Also, before the IPO, the company’s board structure will be changed and new accounting rules will be adopted. LIC’s IPO is being considered very important to reduce the fiscal deficit during the Corona period.
Mint has given this information quoting sources. We will invite anchor investors once the embedded valuation exercise is completed and the pricing for the IPO is ready, a government official said. Another source said there could be more than two dozen anchor investors for LIC’s IPO. Usually anchor investors are brought in to increase investor confidence and to know the demand for IPOs in the market. Emails sent to LIC and the Finance Ministry in this regard did not elicit any response.
What will be the share freeze of Rs 43,500 crore Size of IPO It is
believed that by selling 10 percent stake in LIC, the government can get Rs 1 lakh crore. However, it is not yet decided what will be the size of this IPO. According to sources, the compliance procedures in LIC are being molded according to the listing rules. The government official said that there will be changes at the constitutional level in LIC. We call the board of LIC a board but the company does not have a board as per the listing rules of SEBI. So there will be many changes in LIC. We are constantly meeting to expedite the process of LIC’s IPO.
What will be the share freeze of Rs 43,500 crore Size of IPO It is
believed that by selling 10 percent stake in LIC, the government can get Rs 1 lakh crore. However, it is not yet decided what will be the size of this IPO. According to sources, the compliance procedures in LIC are being molded according to the listing rules. The government official said that there will be changes at the constitutional level in LIC. We call the board of LIC a board but the company does not have a board as per the listing rules of SEBI. So there will be many changes in LIC. We are constantly meeting to expedite the process of LIC’s IPO.
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