Setting the stage for the country’s biggest ever public offering, Life Insurance Corporation on Sunday filed draft papers with capital market regulator Sebi for the sale of 5 per cent stake by the government for an estimated Rs 63,000 crore.
Setting the stage for the country’s biggest ever public offering, Life Insurance Corporation on Sunday filed draft papers with capital market regulator Sebi for the sale of 5 per cent stake by the government for an estimated Rs 63,000 crore. The initial public offering of over 31.6 crore shares or 5 per cent government stake is likely to hit the D-street in March and employees and policy holders of the insurance behemoth would get a discount over the floor price. LIC’s embedded value has been pegged at about Rs 5.4 lakh crore as of September 30, 2021, by Milliman Advisors.
