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LIC IPO News | New Delhi: The Russia Ukraine war is most likely to impact the biggest IPO in the history of India. According to a report by Bloomberg, the Indian government is looking to raise Rs 30,000 crore or $3.9 million through the LIC IPO. This is 40 per cent lesser than the earlier estimates. Also, the officials want the listing to happen within the next two weeks. The government had postponed the listing of LIC IPO in March 2022, as Indian share markets, like global markets, had reacted negatively to the Ukraine war.
Media reports had suggested that the government would take a call on the LIC IPO date this week itself. If the government does not decide on the LIC IPO date before May 12, they will have to file fresh papers with the Securities Exchange Bank of India (SEBI).
According to the report, the LIC may be valued at Rs 6 lakh crore, ahead of the IPO. However, the government is not in the favour of selling more than 5 per cent of its stake in the company. It will, as a result, help the government raise around Rs 30,000 crore, down from Rs 50,000 crore as estimated earlier.
The proceedings will play a major role in helping the government meets its disinvestment target of Rs 65,000 crore for FY23. The other details like LIC IPO price and LIC IPO allotment date will be declared in the due course.
But even with a lesser valuation, LIC IPO will most likely be the biggest IPO in India, surpassing Paytm, which had raised around Rs 19,000 crore on the listing.
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