{"id":15371,"date":"2022-01-13T17:41:21","date_gmt":"2022-01-13T12:11:21","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-lic-ipo-3\/"},"modified":"2022-01-13T18:42:46","modified_gmt":"2022-01-13T13:12:46","slug":"biz-lic-ipo-3","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-lic-ipo-3\/","title":{"rendered":"LIC IPO to hit markets by March; draft papers to be filed with Sebi by this month-end"},"content":{"rendered":"<ul class=\"wp-block-list\"><li><strong><span style=\"font-weight: 400;\">The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said.<\/span><\/strong><\/li><li><strong><span style=\"font-weight: 400;\">LIC IPO is crucial for meeting the Rs 1.75-lakh crore disinvestment target set for the current financial year ended March 2022.\u00a0<\/span><\/strong><\/li><li><strong><span style=\"font-weight: 400;\">since the LIC Act has no provision for foreign investments, there is a need to align the proposed LIC IPO with Sebi norms regarding foreign investor participation.<\/span><\/strong><\/li><\/ul><div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3537791069\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><span style=\"font-weight: 400;\">The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month. The September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress, an official said.<\/span><\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3065685966\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><span style=\"font-weight: 400;\">The Cabinet Committee on Economic Affairs had in July last year cleared the disinvestment of LIC.&nbsp;<\/span><\/p><p><span style=\"font-weight: 400;\">Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry.<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cWe are hopeful of filing the DRHP (draft red herring prospectus) with Sebi by month-end or early February. One thing is for sure that IPO will come before the end of the current fiscal,\u201d the official told PTI.<\/span><\/p><div class=\"trade-content_5\" id=\"trade-2411832236\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><span style=\"font-weight: 400;\">LIC IPO is crucial for meeting the Rs 1.75-lakh crore disinvestment target set for the current financial year ended March 2022. So far this fiscal, Rs 9,330 crore has been mopped up through PSU disinvestment. The government is in the process of deciding the quantum of government stake that will be divested through the IPO.<\/span><\/p><p><span style=\"font-weight: 400;\">The government in September last year appointed 10 merchant bankers, including Goldman Sachs (India) Securities Pvt Ltd, Citigroup Global Markets India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd to manage the mega initial public offering of the country\u2019s largest insurer LIC.<\/span><\/p><p><span style=\"font-weight: 400;\">Other selected bankers include SBI Capital Market Ltd, JM Financial Ltd, Axis Capital Ltd, BofA Securities, JPMorgan India Pvt Ltd, ICICI Securities Ltd, and Kotak Mahindra Capital Co Ltd.<\/span><\/p><p><span style=\"font-weight: 400;\">Cyril Amarchand Mangaldas has been appointed as legal advisor for the IPO.<\/span><\/p><p><span style=\"font-weight: 400;\">The government is also mulling allowing foreign investors to pick up stakes in the country\u2019s largest insurer LIC. According to Sebi rules, foreign portfolio investors (FPI) are permitted to buy shares in a public offer. However, since the LIC Act has no provision for foreign investments, there is a need to align the proposed LIC IPO with Sebi norms regarding foreign investor participation.<\/span><\/p><p><span style=\"font-weight: 400;\">Source: PTI<\/span><\/p><div class=\"trade-content-10\" id=\"trade-2464012779\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2403433933\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. LIC IPO is crucial for meeting the Rs 1.75-lakh crore disinvestment target set for the current financial year ended March 2022.\u00a0 since the LIC Act has [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":15408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1513,1516,31],"tags":[],"class_list":["post-15371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editor-pick","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LIC IPO to hit markets by March; draft papers to be filed with Sebi by this month-end - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-lic-ipo-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LIC IPO to hit markets by March; draft papers to be filed with Sebi by this month-end\" \/>\n<meta property=\"og:description\" content=\"The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. 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