InvestorQ : Is the LIC IPO confirmed to open on 04th May?
vaishnavi mhatre made post

Is the LIC IPO confirmed to open on 04th May?

vidhya Laxmi answered.
11 months ago

The final decision will be announced by the government after the LIC board meeting on Tuesday 26th April. As of now, based on reports, it is almost confirmed that the IPO of LIC will open on 04th May and close on 09th May, both the days being inclusive. The details of the IPO will be divulged on Wednesday 27-April including price band for the IPO.

As discussed in last few days, government is likely to sell 3.5% stake in LIC to raise Rs.21,000 crore. This values LIC at Rs.600,000 crore. Apparently, the government has reconciled to halving the valuations and a lower capital raising program. The LIC IPO is likely to come with a green shoe option for the government. LIC is likely to be valued at 1.1X embedded value.