LIC fixes worth band at Rs 902-949 a share for Rs 21,000 crore IPO

LIC fixes worth band at Rs 902-949 a share for Rs 21,000 crore IPO

New Delhi: Insurance coverage big LIC has fastened the value band at Rs 902-949 per share for the Rs 21,000 crore public supply that’s prone to open on Might 4, sources stated.

In accordance with sources, Life Insurance coverage Company (LIC) would supply a Rs 60 low cost for policyholders and Rs 40 for retail buyers and workers.

The problem is prone to open for subscription on Might Four and is predicted to shut on Might 9.

The federal government had in February deliberate to promote 5 per cent stake or 31.6 crore shares of the insurance coverage behemoth and had filed draft papers with Sebi.

Nonetheless, the IPO plans confronted headwinds as a result of ongoing market volatility amid the Russia-Ukraine struggle.

Final week, the federal government determined to decrease the difficulty dimension to three.5 per cent.

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