The public authority has divided the gauge of the sum to be raised from LIC IPO, presently looking at to raise Rs 30000 crore!

News agency Reuters quoted a source as saying that the Indian government is planning to raise around Rs 30,000 crore by selling more than 5% stake in Life Insurance Corporation of India, which is half the old estimate.

New Delhi, Reuters/PTI. An administration source advised Reuters that the Indian government is wanting to raise around Rs 30,000 crore ($3.9 billion) by selling a stake of over 5% in Life Insurance Corporation of India. This is half of what he had recently assessed. As indicated by the source, the valuation of LIC is around Rs 6 lakh crore now, which is a lot of lower than the public authority's prior gauges after the financial backer reaction.

Prior the public authority had assessed that the LIC valuation ought to associate with Rs 17 lakh crore. The source said the public authority should get a new administrative endorsement for the posting system. At this point, the Finance Ministry has not answered an email mentioning an assertion on this.

LIC IPO was to come first in March!

Significantly, LIC's IPO was planned to be brought in March 2022 but it was postponed due to Ukraine-Russia war. Actually, LIC does not want to take any risk regarding disinvestment, but now the government has time till May 12 to release it. After this, the government will have to file a fresh draft red herring prospectus (DRHP) with SEBI to bring the IPO.

Authorities on the matter agree, on the off chance that the public authority can't bring an IPO by May 12, then, at that point, LIC's IPO might be delayed till August-September since then there will be a need to document a new DRHP with SEBI with a new appraisal when the quarterly outcomes come.

Decision on LIC IPO date soon

According to news agency PTI, the government can take a decision on the date of LIC IPO in the next one or two days. A senior official of the Finance Ministry has given this information. The official said that in this week a decision will be taken to bring the LIC IPO.

He further said that the price of the IPO will have to be fixed in such a way that the stock rises on the day of listing and the investors get benefits.