lic ipo Latest News: LIC IPO can be divided into two offers Learn the details
- The government plans to raise Rs 1 lakh crore through LIC’s IPO
- The issue can come up in two installments, with a gap of a few months between the two
- It is believed that the market is not in a position to handle such a big question.
Investors are eagerly awaiting the IPO of LIC, the country’s largest insurance company. The government plans to raise Rs 1 lakh crore through this. It is believed that this issue can occur in two installments. There will be a gap of a few months between the two installments. The reason for this is believed to be that the market is not in a position to handle such a big question.
If the plan is implemented, for the first time in the country, a problem will come up in two installments. Under existing SEBI rules, promoters cannot reduce their stake to less than 20 per cent within 18 months of the IPO. Also, promoters of a large company with a market cap of Rs 1 lakh crore can reduce their share by 10 per cent in two years.
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Consider all the options
Cornerstone investors are among the options being considered for LIC’s IPO. They can invest heavily in this before the IPO. Usually, government companies do not make any kind of share placement with investors before making an offer. These include the sale of shares to Konstone investors, the appointment of large investors before the IPO, or the sale of a portion of the IPO to anchor investors one day before the issue opens.
All options are being considered to make LIC’s offer a success, an official said. International institutions, including sovereign wealth funds and private equity funds, are being considered as potential investors. Food delivery services company Zomato’s Rs 9,375 crore IPO is the largest so far this year. It was subscribed 38 times. However, the Rs 5,000 crore IPO of Nirma Group’s cement company Nuvoco Vista was subscribed only 1.7 times.
Shares of this Tata group company hit a record high, near the market cap of Reliance Industries
SEBI changed the rules
SEBI has recently changed some of the rules of IPO to facilitate LIC’s IPO. SEBI had said in February that if a company’s market cap reaches Rs 1 lakh crore after an IPO, it could reach 10 per cent public shareholding in two years and 25 per cent in five years. Finance Minister Nirmala Sitharaman had said that after a five-year IPO, the government would have a 75 per cent stake in LIC, which would then be reduced to 51 per cent.
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