The government has slashed the LIC IPO size to 3.5 per cent at Rs 21,000 crore amidst the escalating Russia-Ukraine war.
The initial public offering of life insurance corporation will take place in May this year, with issue opening on May 4, CNBCTV 18 reported citing sources. The government has slashed the LIC IPO size to 3.5 per cent at Rs 21,000 crore amidst the escalating Russia-Ukraine war. The issue size will be valued at Rs 6,000 crore.
Touted as India’s biggest IPO, the government was earlier planning to raise Rs 63,000 crore via LIC IPO. The LIC IPO was earlier supposed to be taken place on March 11, to meet the disinvestment target of Rs 78,000 crore for FY2022.
LIC's embedded value, which is a measure of the consolidated shareholder’s value in an insurance company, was pegged at about Rs 5.4 lakh crore as of September 30, 2021, by international actuarial firm Milliman Advisors.