InvestorQ : What is the latest on the proposed LIC IPO? Is there any clarity on time schedules?
sarah Leo made post

What is the latest on the proposed LIC IPO? Is there any clarity on time schedules?

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Rashi Mehra answered.
3 months ago
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It looks like the government has put the IPO of LIC now on a fast track. While time schedules are not known, the IPO is likely to happen anywhere around the Jan-Mar quarter in 2022. With its IDBI Bank divestment getting delayed and BPCL yet to happen, the government has put LIC IPO on the fast track. To begin with, the GOI has already selected 10 investments banks to manage the listing, although the actuarial valuation is still to be out.

The 10 investment banks selected for the LIC IPO include Goldman, Citi, SBI Caps, JM Financial, Axis Capital, Nomura, BOFA Securities, JPM India, I-Sec and Kotak Mahindra Capital. The government looks to raise nearly Rs.90,000 crore through the issue, and it could include a fresh issue component also. The LIC IPO will be a key step to the government getting close to its proclaimed disinvestment target of Rs.175,000 crore.

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