Govt files draft papers with Sebi for LIC IPO, says DIPAM secretary

[ad_1]

Table of Contents



The government on Sunday filed the draft papers with regulator for IPO, which is expected to hit the capital market in March.


The government will sell over 31 crore equity shares of LIC, according to the draft red herring prospectus filed with





“The DRHP of has been filed today with the SEBI,” Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.


The government aims to come out with the and subsequent listing of Life Insurance Corporation (LIC) on bourses by March.


A portion of the would be reserved for anchor investors. Also, up to 10 per cent of the IPO issue size would be reserved for policyholders.


Actuarial firm Milliman Advisors LLP India had worked out the embedded value of LIC, while Deloitte and SBI Caps have been appointed as pre-IPO transaction advisors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor



[ad_2]

Source link