LIC IPO: Policyholders will get 5% discount, draft prospectus to be filed this week

The IPO of Life Insurance Corporation of India (LIC) is being eagerly awaited among the investors. The company is contemplating to file a draft Red Hering Prospectus (DRHP) in this regard this week.

The IPO of Life Insurance Corporation of India (LIC) is being eagerly awaited among the investors.

Life Insurance Corporation of India (LIC) The IPO ,IPO, It is being eagerly awaited among the investors. This week the company will draft red herring prospectus in this regard. (DRHP) Considering filing. According to the report of ET Now, in the upcoming IPO of LIC, its policyholders are expected to get a discount of 5 percent. Apart from this, according to the report, LIC will file its draft red herring prospectus on February 10. With this, the price band for retail bidders and employees (Price Band) But some discount is expected.

Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey indicated last week that the state-run insurance company is expected to file the DRHP this week.

Appointment of 10 merchant bankers last September

Last September, the government had appointed 10 merchant bankers to complete the initial public offering of the country’s largest insurance company LIC. These include Goldman Sachs, Citigroup and Nomura. At the same time, Cyril Amarchand Mangaldas was nominated as a legal advisor.

The Cabinet Committee on Economic Affairs had approved the disinvestment of LIC in July last year. It is believed to be the biggest IPO of the country till date.

Let us tell you that the preparations for the Mega IPO of Life Insurance Corporation are going on in full swing. The government can change the policy of FDI to woo foreign investors. In any case, the government wants to bring LIC IPO in this quarter. DPIIT Secretary Anurag Jain said that the limit of FDI (Foreign Director Investment) in the insurance sector is 74 percent, although this limit does not apply for Life Insurance Corporation.

According to a report published in the Times of India, Jain said that the current policy of FDI for the insurance sector will not help in the process of disinvestment of Life Insurance Corporation. In such a situation, changes will have to be made in the foreign direct investment policy. Changes in policies will have to be made soon because LIC’s IPO is dependent on it.

Talks are going on with the Department of Financial System (DFS) and the government’s disinvestment department, DIPAM, regarding changes in FDI rules. Two important meetings have been held on this issue, after which mutual consent of DPIIT, DFS, DIPAM has also been reached.

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