LIC is seeking his participation in the country’s largest ever public issue through this formal roadshow.
LIC’s IPO is likely to hit the market by the end of this financial year.
Country’s largest insurance company Life Insurance Corporation of India has Initial Public Offering (IPO) Draft Red Herring Prospects (DRHP) have been filed for One day after DRHP LIC (LIC IPO, launched a roadshow to woo global investors. LIC is seeking his participation in the country’s largest ever public issue through this formal roadshow. Let us tell you that the government is selling 5 percent stake in LIC through IPO. Under LIC’s IPO, 316 crore shares will be offered, which is equivalent to 5 per cent stake.
LIC’s IPO is likely to hit the market by the end of this financial year i.e. by March 31. A week ago, the embedded value of LIC was fixed at Rs 5 lakh crore. Through this IPO, the government will sell 316,294,885 equity shares of LIC and the face value of each share will be Rs 10.
These bankers took part in the road show
Bankers and Finance Ministry officials economics times Told that Capital Group, Aberdeen Asset Management, University of California Endowment, Abu Dhabi Investment Authority (ADIA) and GIC of Singapore are among those funds. who participated in the Investor Roadshow on Monday.
The other participants in the roadshow being held virtual due to Kovid-19 restrictions were three Canadian pension funds, Standard Life, HSBC MF and Franklin Templeton.
Sources said some top domestic institutional investors (DIIs) are also participating. A source said, “We have now formally started the roadshow, though informal talks have been going on for some time now. Being the largest high-profile share sale, we need to be 100 per cent sure of participation.