According to the documents submitted with SEBI, the time for bringing the IPO of Life Insurance Corporation of India (LIC) is till May 12. If by mistake the IPO is not brought by the government within this time interval, then SEBI will have to submit the documents to the government again. Along with this, he will also have to tell the results of December in this document.
For this reason, it is expected that the IPO of AIC will come before May 12. Let us tell you that the government is about to sell about 316 crore shares or five percent stake in LI first. Which was planned to be introduced in this March, but due to slow in the market, it can be carried forward.
The government is preparing to raise around Rs 60,000 crore by presenting these IPOs. The draft Red Herring Prospectus (DRHP) presented with SEBI on February 13 was approved by SEBI. Now according to that document, it can be presented till May 12.
Keeping an eye on market volatility
According to an official, SEBI has time till May 12 to bring the IPOs based on the documents filed, in view of which the RHP with the price band will be filed soon. At the same time, the market is also being watched, its ups and downs are also being seen. If the situation worsens in some way, it can be brought again.
35% reserve
LIC has reserved up to 35 per cent of its total IPO size for retail investors. According to the official, 20 thousand crores is required for the supply of such investors, but this amount is not available yet. For this reason it will be presented with care.