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LIC IPO: Filing of DRHP with SEBI likely on Feb 11, says report LIC IPO

LIC IPO: Filing of DRHP with SEBI likely on Feb 11, says report

India Blooms News Service | @indiablooms | 11 Feb 2022, 02:19 am

Mumbai: The Draft Red Herring Prospectus (DRHP) of India's most awaited initial public offering (IPO) by Life Insurance Corporation of India is expected to be filed with SEBI on February 11, sources told CNBC-TV18.

The Insurance Regulatory and Development Authority (IRDAI) had approved the LIC IPO proposal in a board meeting on February 9.

The quantum of divestment and EV numbers will be mentioned in the DRHP, it said.

While presenting the Union Budget for 2022-23, Finance Minister Nirmala Sitharaman had informed the Parliament that the IPO of Life Insurance Corporation of India is expected shortly.

The government is looking for a valuation of $203 billion for the life insurance behemoth, which will make it the second-largest listed company by market capitalisation, Bloomberg reported.

According to media reports, the government is said to be considering a two-part IPO of LIC over apprehensions that the equity market may not be able to absorb a mammoth primary issue at one go.

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