LIC 3.0: India’s biggest ever IPO to open on May 4, read all the details here!

The long-awaited Life Insurance Corporation (LIC) public issue offer is finally here, with the long-awaited initial public offering (IPO) will open on May 2 for anchor investors and from May 4 to May 9 for the general public, according to the insurance behemoth’s news conference on Wednesday.

“LIC 3.0” will begin, according to LIC Chairman M R Kumar, referring to India’s largest public issuance, which will be priced between 902 and 949 rupees, with a 60 per cent discount for policyholders and a 45 per cent discount for retail investors and employees.

According to LIC Chairman M R Kumar, “LIC 3.0,” India’s largest public issuance, will begin with a 60 percent discount for policyholders and a 45 percent reduction for retail investors and employees, priced between 902 and 949 rupees.

“The government was adamant about listing LIC. LIC is a strong corporation owned by the people of India, and its listing is part of the government’s long-term strategic vision, with the goal of creating long-term value for shareholders “Added he.

Employee reservations will account for 5% of the post-offer equity share capital, while policyholder reservations will account for 10% of the offer amount.

According to the business, the LIC board of directors approved a reduction in the IPO issue size from 5% to 3.5 per cent.

The government would now sell 20,557 crores for 21,000 crores, a 3.5 per cent dilution of its interest in the insurance behemoth, valuing it at 6 lakh crore.

Given the market limits, DIPAM secretary Tuhin Kanta Pandey believes the size of the LIC IPO is appropriate. We wish to promote LIC as an equity market long-term value builder.