The war between Russia and Ukraine is also affecting India. After the steady rise in crude oil, now the country’s biggest IPO may be delayed. LIC’s IPO is difficult, because the stock market has seen a decline for the last few days. Due to which the government does not want to make a loss deal by presenting it. The government is planning to earn Rs 65,000 crore from LIC’s IPO.
When can the country’s biggest IPO come
According to the information, LIC’s IPO can be presented in April or May. It is expected that the government can present it in the last week of April or the first week of May. Because according to the DRHP filed with SEBI, the IPO will have to be submitted by May 12 and if it fails, the documents will have to be submitted again.
When was the draft released
The country’s largest state-run insurance company had submitted the draft IPO (DRHP) to the market regulator SEBI on February 13, 2022. Accordingly, around 31.6 crore or 5% of the shares will be sold. At the same time, 10% share has been reserved for policyholders. Along with this, they can also get a reservation of 5 percent.
LIC included in top 10
LIC is the only Indian company in the list of top 10 companies in the world. It is the third strongest brand in the world. Apart from LIC, 5 companies from China are also included in the top ten list. Let us tell you that LIC is a 100% government company at present, but between January and March 2022, the government is going to sell 10% of the company’s stake in the stock market.