LIC IPO: The government’s plan is to bring the country’s largest IPO by March. For this, approval can be obtained from SEBI in 35-40 days after submission of documents.
LIC IPO: Preparations to bring the country’s largest life insurance company IPO are on fast track, that is, the government is working on bringing it as soon as possible. DIPAM Secretary Tuhin Kanta Pandey told The Financial Express that the work is being done in close coordination with the market regulator SEBI and SEBI will have the draft Red Herring Prospectus (DRHP) of LIC’s IPO in the first week of next month. may accumulate. According to Pandey, it will be brought as flawlessly as possible. The government’s plan is to bring the country’s biggest IPO by March. For this, approval can be obtained from SEBI in 35-40 days.
The situation is not clear about how big the IPO of LIC will be. However, if the government disinvests 10 percent stake in it, then it can be worth Rs 1 lakh crore. At the same time, some experts estimate that this IPO can be up to Rs 15 lakh crore. The government has so far collected only about 16 per cent of the disinvestment target of Rs 1.75 lakh crore i.e. Rs 27330 crore in this financial year.
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IPO can be approved in 35-40 days
When asked whether the IPO would be approved within 35-40 days after submitting the papers to SEBI, Pandey said that the information related to the DRHAP of LIC’s IPO is being continuously given to SEBI. So it seems possible. The valuation report of LIC will be available after some time. Last year in 2021, SEBI took the shortest time in 18 years to approve the IPO while the average is 77 days. Prime Database MD Pranav Haldia said that last year Seven Islands and Microtech Developers got approval to bring IPO in just 35 days.
BPCL IPO in next financial year
Apart from LIC, the government’s plan was to disinvest BPCL in the current financial year as well, but now it is expected to come in the next financial year 2022-23. The disinvestment plan of state-owned oil and marketing company BPCL can be more than 50 thousand crore rupees. Its disinvestment plan has been stalled due to delay in inviting financial bids for BPCL.
,Article: Prasanta Sahu
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