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LIC likely to launch $8-bn mega IPO on March 11: Report

LIC likely to launch $8-bn mega IPO on March 11: Report

LIC's initial public offering (IPO) is expected to obtain regulatory approval by the first week of March.

The book will open for bidding by other investors a couple of days later, the sources said. The book will open for bidding by other investors a couple of days later, the sources said.

A public offering of shares by India's state-run Life Insurance Corp (LIC), set to be the country's biggest ever at $8 billion, is expected to open for anchor investors on March 11, three sources with direct knowledge of the matter told Reuters.

The book will open for bidding by other investors a couple of days later, the sources said.

LIC's initial public offering (IPO) is expected to obtain regulatory approval by the first week of March after which an indicative marketing price band will be set, said the sources, declining to be named as the deal discussions are private.

LIC declined to comment. A finance ministry spokesperson did not immediately respond to a Reuters request seeking comment.

Also read: LIC has over Rs 21,000 crore of unclaimed funds 

Published on: Feb 18, 2022, 2:22 PM IST
Posted by: Mohammad Haaris Beg, Feb 18, 2022, 2:20 PM IST