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LIC likely to submit initial IPO prospectus on April 26: Report

LIC likely to file preliminary IPO prospectus on April 26: Report

MUMBAI: Life Insurance coverage Corporation is likely to file a preliminary IPO prospectus on Tuesday, sources straight associated with the IPO process informed Reuters.
The federal government is wanting to sell a 3.5% stake in the state-owned insurance behemoth and the IPO is most likely to open in the first week of May.
The cost band for the per equity share is most likely to be announced tomorrow, the sources said.
LIC management and the financial investment lenders will start road displays in six cities throughout India – including Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot, Kolkata – where they will be fulfilling possible investors and analysts beginning on Wednesday, among the sources stated.
The roadway programs are likely to be concluded by the end of this week. In the last 2 years with the Covid-19 pandemic, physical road programs had actually concerned a grinding stop today with infections down the management has chosen to re-start the process.
Apart from this, online road reveals covering investors across other regions will also continue, the source added.
The financing ministry did not instantly react to an e-mail demand seeking comment.
New Delhi has actually currently halved its fundraising objective for LIC’s IPO to $3.9 billion, having actually had to cut its assessment approximates after feedback from financiers, a federal government source informed Reuters recently.

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Released at Tue, 26 Apr 2022 08:56:55 +0000

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