The issue size, which is likely to take place in the first week of May 2022, will be valued at Rs6,000 crore.
The government was earlier planning to sell its 5 per cent stake in LIC to raise Rs63,000 crore. Earlier the LIC IPO was supposed to be taken place on March 11, to meet the disinvestment target of Rs78,000 crore for FY2022, however, the Russian invasion of Ukraine derailed the LIC IPO.
Further, the report added that now the stake sale could be a little over 5 per cent. In the last week, Business Standard reported that the government’s stake sale could be as much as 7 per cent. LIC IPO is likely to place within the next two weeks at a valuation of Rs6 lakh crore.
Meanwhile, LIC had filed the DRHP with Sebi in February, stating that the government would sell 31.6 crore shares in a 5 per cent stake sale in the state-run insurer. The government’s offer for sale including the draft herring prospectus expires on May 12.
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