The long wait was finally over. The initial public offering (IPO) of Life Insurance Corporation (LIC) will start from May. According to official sources, the IPO will be traded from May 4 to 9. Some investors will be able to avail this facility from May 2. Other information related to the IPO, including the amount of shares allotted through SEBI (Securities and Exchange Board of India) will be announced next Wednesday. LIC has taken a landmark decision by registering its name in the stock market.
Initially, it was decided that 5 percent or about 31 crore shares of the company would be released in the market, but now it has been changed to 3.5 percent. In that case, a total of 22 crore shares will be released in the market.
The situation during the Russia-Ukraine war led to the final uncertainty in the world stock market. Therefore, it was not possible to issue shares of LIC even though it was supposed to come in the market in the last financial year.