IPO Update: LIC can Submit Draft Paper with SEBI today; Plans to Raise 1 lakh Crore

In March, the country’s largest insurance business, LIC, will go public. The Insurance Regulatory and Development Authority of India (IRDAI), the insurance sector’s regulator, has awarded LIC India permission to make an initial public offering (IPO). LIC is expected to file a draft paper (DRHP) with SEBI, the stock market regulator, today.

The insurance business is set to file its draft red herring prospectus (DRHP) on February 11.

The company intends to raise Rs 1 lakh crore through an IPO

Let us inform you that LIC is planning the largest initial public offering (IPO) in the history of the Indian stock market. The government intends to raise up to Rs 1 lakh crore via the sale of LIC IPO shares. After listing on the stock exchange, the market capitalization of LIC is estimated to be in the range of Rs 13 to 15 lakh crore.

LIC policyholders have a 10% reserve

In addition, there is some good news for those who have a LIC policy. It is anticipated that 10% of the IPO will be set aside for them. This increases their chances of receiving stock. Aside from that, he is expecting to receive a price reduction per share.

LIC largest publicly traded corporation in the country

The market value of LIC is expected to surpass 43 lakh crores this year, according to London-based Brand Finance. In the next five years, by 2027, it is estimated to reach Rs 58.9 lakh crore. In this way, it will be able to maintain its position as the country’s largest corporation for the foreseeable future.