LIC IPO Latest UpdateThere is a nice information for the traders who have been waiting for a long time from Life Insurance Corporation of India (LIC). Now LIC’s IPO will come only at the predetermined time i.e. as an alternative of March, it will now come in April. In this case, it was knowledgeable by the officers that in view of the large volatility in the market due to Russia-Ukraine warfare, the government is delaying the LIC IPO.
Market regulator SEBI has authorised the LIC IPO in simply 22 days. After this all the speculations are accomplished that LIC’s IPO can be averted until next year. Because usually IPO takes 75 days to get authorised. SEBI has issued the commentary letter for this.
LIC IPO unlikely to be postponed
Securities and Exchange Board of India SEBI (Securities and Exchange Board of India) has not authorised any IPO so soon. That is why it is feared that the IPO is not going to be averted due to Russia-Ukraine (*60*). However, due to Russia-Ukraine, there is a promoting atmosphere in the market. For this motive, there was speak of avoiding LIC IPO until next year. This year the government has set a goal of elevating Rs 60,000 crore from IPO.
According to media experiences, on the foundation of the info acquired, it has been said that the officers of the department have given details on the condition of anonymity that the government needs that LIC IPO IPO can get full support to the traders. But given the large volatility in the market due to Ukraine-Russia, the government does not need to be impulsive from now on. The government is considering of coming up with an IPO at such a time that there should be stability in the home market along with the world. The government needs to promote its 5 % stake in LIC.
Country’s biggest IPO will come on this day
In case of IPO coming up, it has been knowledgeable by the officers of the department that efforts are being made to deliver LIC IPO by the month of April. Now the government does not need to delay additional concerning LIC IPO. It has been said by the officers of the department that there is time until May 12 to deliver the IPO. If we speak about last month, then due to Russia-Ukraine warfare, there has been much less volatility in the market. If before continuing on the IPO, the feeling of Institutions and retail traders will also have to be taken care of.
LIC IPO Date Update
LIC had just lately submitted draft papers to the market regulator in the month of February. According to this draft, it is proposed to promote 31,62,49,885 fairness shares out of a complete of 632 crore shares of LIC. Of this, 50 % will be reserved for certified institutional consumers (QIBs). With this, it will be 15 % for non-institutional consumers.
After getting the approval of SEBI, it will be legitimate for 12 months. It is legitimate for a period of 1 year from the date of approval of the IPO. An enormous resolution has been taken in the cupboard assembly concerning LIC IPO. Foreign direct investment (FDI) up to 20 % was allowed under the computerized route.
To get info about more such government and non-government schemes visit our website. (*5*) Do bookmark it.