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


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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.)

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