A public offering of shares by India’s state-run Life Insurance Corp (LIC) is expected to open for anchor investors on March 11, according to three sources with direct knowledge of the matter.
The offering is expected to be India’s biggest IPO at $8 billion. Other investors will be able to bid on the book a few days later, as it has been revealed so far.
LIC India’s Biggest IPO at $8 billion Set to Launch
The initial public offering (IPO) of LIC is scheduled to be approved by regulatory authorities by the first week of March, or around March 11. Following that, an indicative marketing price bracket will be established, according to the sources, who declined to be identified since the transaction negotiations are confidential.
LIC did not respond to a request for comment.
Tuhin Kanta Pandey, Department of Investment and Public Asset Management (DIPAM) Secretary, commented,
“I would say the embedded value could be more than 5 trillion rupees and the enterprise value will be multiples of that,”
The embedded value of the LIC has been set at more than 5 trillion rupees (USD 66.82 billion) The embedded value will be used to estimate the market value of LIC and how much money the government would raise through the IPO.
This will be critical for the government to accomplish its divestment goals and keep the budget deficit under control. The market value of LIC is estimated to be roughly four times the embedded value.
Check out LIC India’s website to learn more!
Related posts
Subscribe for newsletter
* You will receive the latest news and updates on your favorite celebrities!
Young Turtles 2022 Workshop by Turtle Venture
Turtle Venture is here with a brand new workshop for you to join! The registration for Young Turtles 2022 is…
SHE LOVES TECH Bangladesh 2020
I f you’re a woman entrepreneur, then “She Loves Tech” would be a popular name for you, right? They will…
SELISE Coding Challenge 2020
A re you a coder? Are you bored in this quarantine while looking for opportunities to enrich or test your…
GP Accelerator Startup Talk Episode-1
D ue to COVID-19, it was like life almost had stopped in the earlier days. Though it’s not like that…
bKash Launches bTechWhiz to JumpStart Talent Hunt from University Graduates
The leading mobile financial services (MFS) provider in the nation, bKash, has started a program called “bTechWhiz” to find and…
“Be The Star of Entrepreneurship” Mentorship Sessions: Startup Literacy
The sixth mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on the 19th of April on Startup…
“Be The Star of Entrepreneurship” Mentorship Sessions: Startup Finance
The fifth mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on the 18th of April on Startup…
“Be The Star of Entrepreneurship” Mentorship Sessions: Product Design
The fourth mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on the 16th of April on Product…
“US Patent and Trademark Office Meets MSMEs and Startups” Session Held
A session was held recently on 10th May 2022; organized by iSocial Limited and facilitated by Turtle Venture- regarding…
“Be The Star of Entrepreneurship” Mentorship Sessions: HR Management
The latest mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on the 24th of April on HR…
“Be The Star of Entrepreneurship” Mentorship Sessions: Fund Raising
The latest mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on the 28th of April on Fund…
Bangladeshi Startups Getting $750 Million in Foreign Investment
In the last decade, the country has attracted over $750 million in foreign investment in the startup industry, according to…