New Delhi: The government is likely to take a decision on the timing of the initial public offering (LIC IPO) of Life Insurance Corporation of India this week. “A decision on the timing of the IPO will be taken this week,” an official said. PTI,
The official further said it would be difficult to decide whether to pursue demand from retail and domestic investors or wait for geopolitical tensions to ease and FIIs to return to the market. PTI informed of.
The IPO, which was originally planned to launch in March, got derailed due to the Russia-Ukraine crisis.
The government has time till May 12 to launch the IPO without filing fresh papers with the Securities and Exchange Board of India.
If IPO If not launched yet, it will have to be postponed to August or September as new papers with updated quarterly results and valuations have to be filed with SEBI.
The success of LIC’s IPO is crucial for the government to meet its asset sale target, which has been slashed marginally. 65,000 crore target for the current financial year.
On dilution of 5 per cent stake, LIC IPO This will be the biggest ever in the history of Indian stock exchange and once listed it will have a market valuation at par with top companies like RIL and TCS.
Till date, the amount raised from Paytm’s IPO in 2021 was the largest ever 18,300 crore, followed by Coal India (2010) approx. 15,500 crore and Reliance Power (2008). 11,700 crores.