New Delhi. LIC IPO Date: Life Insurance Corporation of India can submit documents for its IPO by the end of this month i.e. January. Experts in the matter said that preparations are underway and the documents may be handed over to the exchanges soon.
The Economic Times has published this news quoting its sources. He has written that the sources have shared this information on the condition of anonymity. According to the information received, in the last week of January, it can be found that how much is the embedded value of LIC, which brings the country’s largest IPO and how many shares the company is going to launch in the market. However, sources have also said that due to the new variant of Corona, Omicron, a change in time is possible.
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According to the news, an attempt was made to get the Finance Ministry’s comment on this but the officials were not available. Similarly, LIC has also not responded immediately to the e-mail sent in this context.
Earlier, it has been said in different media reports that the central government has set its deadline for this IPO by the end of March. The government is aiming to get around 10 trillion rupees by selling 5 or 10 percent stake in LIC.
FDI rules will also change!
Earlier last week, it was revealed that the government is thinking of amending the rules related to FDI. In order to ease the disinvestment process of Life Insurance Corporation of India (LIC), the Ministry of Commerce and Industry is preparing to make changes in the FDI policy. However, this information also came in the media quoting a top government official.
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Explain that according to the current FDI policy, foreign investment up to 74 percent is allowed in the insurance sector under the automatic route. However, these rules do not apply to LIC as it was established by passing an Act in Parliament. In July last year, the Union Cabinet had approved the introduction of Initial Public Offer (IPO) of LIC.
Tags: IPO, LIC IPO