If you are waiting for the IPO of the insurance company Life Insurance Corporation (LIC), then this news is for you. According to a Bloomberg report, LIC’s IPO will be launched next month i.e. in May. The government will raise Rs 50,000 crore through this IPO.
Explain that the government has time till May 12 to launch the IPO without filing fresh papers with the market regulator SEBI. If the IPO is not launched by this deadline, then the documents will have to be submitted again.
The report said that the government is in discussion to sell 7% stake in LIC through IPO. If this happens then LIC’s IPO will be the biggest ever in the history of Indian stock market. Till now, the amount raised from Paytm’s IPO in 2021 was the highest. Paytm had raised 18,300 crores from the IPO. This was followed by the IPO of Coal India (2010) with around Rs 15,500 crore and Reliance Power (2008) raising Rs 11,700 crore.
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Reliance-TCS Competition: At the same time, once listed, the market capital of LIC will be at par with top companies like Reliance Industries and TCS. Let us tell you that the market capital of Reliance is at the level of Rs 18 lakh crore. At the same time, the market capital of TCS is around Rs 14 lakh crore.