LIC IPO: LIC IPO starts today .. Opportunity to participate first ..

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LIC IPO: More than 25 local and foreign anchor investors have shown interest in investing in the Life Insurance Corporation of India (LIC) Initial Public Offer (IPO), a public sector insurance giant.

Lic Ipo

LIC IPO: More than 25 local and foreign anchor investors have shown interest in investing in the Life Insurance Corporation of India (LIC) Initial Public Offer (IPO), a public sector insurance giant. Rs. The Center has already decided to mobilize Rs 21,000 crore. For this, it is preparing to sell its 3.5 per cent stake in LIC. For this, Plys Band is trading at Rs. 902- Rs. Announced to be between 949. Rs. The company manages assets worth Rs 40 lakh crore. The IPO will be available to retail investors from the 4th of this month. From today, policyholders and employees will be able to participate in the LIC IPO in advance. It also offers some discounts on the price band. At the time of the formation of LIC in 1956, the Central Government had made an initial investment of Rs. 5 crores. Recently, the Center raised Rs. Is mobilizing Rs 21,000 crore. The stock will be listed on NSE and BSE on March 17. Today the gray market premium is Rs.75.

35% for anchor investors:

As per the details available till date, the company has allotted 50 per cent stake in Qualified Institutional Investors (QIPs) including anchor investors during the LIC IPO issue. An official in the IPO process said 35 per cent of the shares reserved for QIP were reserved for anchor investors. For anchor investors today i.e. from May 2 the issue will be available in advance. The official said LIC reserved 35 per cent stake in the issue for retail investors, 15 per cent for HNIs and 10 per cent for policyholders.

The government is the majority stakeholder in LIC:

LIC Managing Director Siddhartha Mohanty said that despite some reduction in government share through IPO, the government will continue to be regulated under Section-37 of the LIC Act. He said the government’s stake in LIC IPO would not be reduced to 51 per cent even after the sale of the stake. Responding to a question, he said the government was not following the process of issuing new shares on behalf of LIC. He clarified that it was decided to sell only the existing shares instead.

LIC has no shortage of funds:

The Center has not taken any dividend from LIC in the last two years .. Rs. Mahanti said Rs 5,600 crore was also withdrawn. Thus LIC has enough cash, he said. LIC will then be managed by a professional board of directors consisting of nine independent directors. The chairman said the term will last until the year 2024. The posts of Managing Director and Chief Executive Officer (CEO) will then be filled.

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