LIC IPO: DIPAM secretary said, LIC’s IPO will come in the fourth quarter of the current financial year

LIC IPO: The IPO of LIC (Life Insurance Corporation), the largest public sector insurance company, will be launched in the fourth quarter of the current financial year 2021-22. DIPAM (Department of Investment and Public Asset Management) Secretary Tuhin Kant Pandey has said that LIC IPO will come in the fourth quarter (January to March, 2022) of this financial year.

It is believed that through IPO, the government can raise up to Rs 1 lakh crore by selling its 10 percent stake in the company. This will prove to be the biggest IPO in India’s IPO history.

DHRP will file with SEBI

Regarding LIC IPO, the government can soon file DHRP (Draft Red Herring Prospectus) with SEBI. DHRP is likely to be filed with SEBI in the first week of December. In any case, the government wants to list LIC on the stock exchange by March 2022. 10 Merchant Bankers have also been appointed for IPO management. Which includes Kotak Mahindra Bank, Goldman Sachs Group, JP Morgan Chase and ICICI Secrurities.

Contact campaign with global investors from next week

But the campaign to contact potential Anchors Investors to invest in LIC IPO can start from next week. Bankers associated with IPO will approach such Anchors Investors. It is believed that more than 100 such Global Investors from around the world will be contacted. So that enthusiasm can be created among investors towards LIC IPO.

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