It has been reported that LIC will have a public offering in the first week of next month. The central government is to sell about 7 per cent of the shares in Dhanvasam. It is expected to raise Rs 50,000 crore.
The IPO of BDM, which was released last year, is by far the largest IPO in the history of the Indian stock market. In this situation, LIC has to raise Rs 50,000 crore.
LP has already obtained SEBI’s permission to issue an IPO. IC is purchased. No new licenses are required to purchase an IPO until May 12th. Perhaps if the IPO is not released by this date it will have to resort to SEBI again. So the government is planning to release the permit by the end of the year.
The government had planned to release it by the last financial year (March 2022). But Russia postponed it because of the unfavorable environment in the stock market due to the Ukraine war. Many companies have postponed their IPO decision for LIC’s IPO. IPOs of companies including MobiQuick, Delivery, Form Easy are about to come.