There is good news for the people waiting for the IPO of Life Insurance Corporation of India (LIC). According to a Bloomberg report, the IPO of LIC can be launched in May next month. The government will raise Rs 50,000 crore through this IPO.
The government has time till May 12 to launch the IPO without submitting fresh documents to market regulator SEBI. If the IPO is not launched by this deadline, the document will have to be submitted a second time.
According to the information, the government is considering selling 8 percent stake in LIC through IPO. LIC’s IPO will be the biggest ever in the history of the Indian stock market. The highest ever amount raised by Paytm’s IPO in 2021 was Rs 18,300 crore. Earlier, about Rs 15,500 crore was raised from the IPO of Coal India (2010) and Rs 11,700 crore from the IPO of Reliance Power (2008).
Once listed, the market capitalization of LIC will be almost at par with top companies like Reliance Industries and TCS. Let us tell you that the market capitalization of Reliance is Rs 18 lakh crore. At the same time, the market capitalization of TCS is around Rs 14 lakh crore.
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